New Delhi, Feb 18 (NationPress) In a significant move to enhance bilateral connections, India and Qatar have proclaimed their intention to form a strategic partnership. The recent discussions also highlighted the joy over the signing of the updated Double Taxation Avoidance Agreement and the acceleration of negotiations concerning the India-Qatar Bilateral Investment Treaty.

During their extensive discussions at Hyderabad House, Prime Minister Narendra Modi and the Amir of Qatar, Sheikh Tamim bin Hamad Al-Thani, reiterated their dedication to fortifying bilateral relations through ongoing, structured collaboration across various sectors such as politics, trade, investment, security, energy, culture, education, technology, innovation, sustainability, and people-to-people connections.

“I had a very fruitful discussion with my brother, Amir of Qatar H.H. Sheikh Tamim Bin Hamad Al Thani, earlier today. Under his leadership, Qatar has achieved remarkable progress. He is also dedicated to fostering a strong India-Qatar friendship. This visit is particularly special as we have elevated our relations to a Strategic Partnership,” PM Modi shared on X following a banquet reception hosted by President Droupadi Murmu in honor of the Amir and his accompanying delegation at Rashtrapati Bhawan.

“Trade was a key focus during our discussions. We aspire to expand and diversify India-Qatar trade linkages. Our countries can collaborate closely in sectors such as energy, technology, healthcare, food processing, pharmaceuticals, and green hydrogen, among others,” he added.

Reflecting on the Amir's successful visit to India in March 2015 and Prime Minister Modi's travels to Qatar in June 2016 and February 2024, both parties acknowledged that consistent interactions at various levels have been pivotal in advancing multifaceted bilateral cooperation. They announced that high-level exchanges would persist through regular bilateral frameworks at ministerial and senior-official levels.

“The two parties noted that trade and commerce have served as robust pillars of economic cooperation between the two nations and emphasized the potential for further expansion and diversification in bilateral trade. Both sides welcomed the transformation of the existing Joint Working Group on Trade and Commerce into a Joint Commission on Trade and Commerce. This Joint Commission will function as an institutional mechanism to evaluate and monitor the entire spectrum of economic relations between the two countries, led by the Ministers of Commerce and Industry on both sides,” detailed an India-Qatar Joint Statement issued on Tuesday evening.

The inaugural meeting of the Joint Business Council, aimed at strengthening alliances between the business and industry sectors of both nations, is scheduled for February 13.

The Qatari delegation praised India's efforts in fostering a favorable environment for Foreign Direct Investment and Foreign Institutional Investment, expressing interest in exploring investment prospects across various sectors, including infrastructure, technology, manufacturing, food security, logistics, hospitality, and other areas of mutual benefit.

“In this context, the Qatari side announced a commitment to invest USD 10 billion in India. The Indian side also acknowledged Qatar's endeavors in enhancing its investment landscape and its initiatives to attract Foreign Direct Investment. India also recognized Qatar's increasing role as a regional hub for goods and services, taking advantage of its strategic location, world-class infrastructure, and business-friendly policies,” the Joint Statement read.

Both parties also recognized that the centuries-old people-to-people ties constitute a fundamental pillar of the historic India-Qatar relationship.

“The Qatari leadership expressed profound gratitude for the contributions made by the Indian community in Qatar towards the progress and development of their host nation, noting that Indian citizens in Qatar are highly esteemed for their peaceful and diligent nature. The Indian side conveyed deep appreciation to Qatar's leadership for ensuring the welfare and well-being of the considerable and vibrant Indian community in Qatar. The Qatari side welcomed India's extension of the e-visa facility to Qatari nationals,” the statement added.

The Indian side also expressed gratitude to Qatar for its support of the growing India-GCC cooperation and for facilitating the inaugural India-GCC Joint Ministerial Meeting for Strategic Dialogue at the level of Foreign Ministers held in Riyadh last September under Qatar’s Chairmanship.

Following the discussions between the two leaders, agreements were signed to establish a bilateral strategic partnership; revise the agreement for the avoidance of double taxation and the prevention of fiscal evasion concerning income taxes and its protocol; MoU between the Ministry of Finance, India, and the Ministry of Finance, Qatar on financial and economic collaboration; MoU on cooperation in youth and sports; MoU for cooperation in documents and archives; MoU between Invest India and Invest Qatar; and a MoU between the Confederation of Indian Industry and the Qatari Businessmen Association.

Earlier that day, the Amir was welcomed by President Murmu and Prime Minister Modi in a ceremonial reception at the forecourt of Rashtrapati Bhawan.

The visiting leader was accompanied by a high-ranking delegation comprising ministers, officials, and business leaders during his second state visit to India.