India and Qatar Sign Agreements to Boost Economic Cooperation
Click to start listening
Synopsis
On February 18, Commerce Minister Piyush Goyal announced the signing of two MoUs between QBA and CII, and another between Invest Qatar and Invest India, enhancing economic ties and elevating the Joint Working Group on Trade and Commerce to a Ministerial level.
Key Takeaways
- India and Qatar signed two MoUs to enhance economic ties.
- Joint Working Group on Trade and Commerce elevated to Ministerial level.
- Future collaboration will focus on sustainability and technology.
- India offers a vibrant economy and a young demographic.
- Global trade dynamics are shifting towards emerging technologies.
New Delhi, Feb 18 (NationPress) The Minister of Commerce and Industry, Piyush Goyal, declared on Tuesday that two Memoranda of Understanding (MoUs) have been established between the Qatari Businessmen Association (QBA) and the Confederation of Indian Industry (CII), alongside another agreement between Invest Qatar and Invest India. Additionally, he revealed the upgrade of the Joint Working Group on Trade and Commerce to a Ministerial level.
During the opening session of the India-Qatar Business Forum, Goyal emphasized that the future collaboration between the two nations will be built on the foundations of sustainability, technology, entrepreneurship, and energy. His Qatari counterpart, Sheikh Faisal bin Thani bin Faisal Al Thani, graced the event as the Guest of Honour.
Goyal extended an invitation to Qatari enterprises to join India on its path of advancement in investments, manufacturing, renewable energy, the expansion of smart cities, and infrastructure development. He stated that Qatar Vision 2030 and India’s Viksit Bharat 2047 will collectively shape a much larger and brighter future for the citizens of both nations.
The Minister remarked that the dynamics of trade are transforming, transitioning from traditional energy commerce to emerging technologies such as artificial intelligence, the Internet of Things (IoT), quantum conducting, and semiconductors. The global landscape is currently experiencing significant shifts due to geopolitical tensions, climate change, cybersecurity threats, and a renewed emphasis on localization worldwide, he noted.
According to the Minister, India and Qatar can synergistically collaborate for mutual prosperity and a brighter future.
Referencing Prime Minister Narendra Modi, he stated, “Today, whether it’s major nations or global platforms, the trust in India is stronger than ever,” and called upon business leaders to unite in this spirit of confidence.
Goyal highlighted that India boasts a vibrant economy, a diverse demographic profile with a young populace, ongoing reforms across all business sectors, a commitment to enhancing the ease of doing business, and a focus on quality at the core of its industrial growth. He asserted that India currently represents an oasis of stability, predictability, and continuity.
