NEW DELHI: Prime Minister Narendra Modi on Tuesday met Qatari Amir Sheikh Tamim Bin Hamad Al Thani in New Delhi.
The two leaders held delegation-level talks at Hyderabad House, focusing on trade, investment, and strategic cooperation.
PM Modi led the discussions, accompanied by external affairs minister S Jaishankar, finance minister Nirmala Sitharaman and senior officials. The Qatari delegation was headed by Amir Sheikh Tamim Bin Hamad Al Thani.
Earlier in the day, the Amir received a ceremonial guard of honour at Rashtrapati Bhavan, where he was welcomed by President Droupadi Murmu and PM Modi.
Upon Qatar’s Amir arrival in New Delhi on Monday, PM Modi broke the protocol and went himself to receive him. Calling Amir Al Thani as his ‘brother’, PM Modi wrote on X, “ Went to the airport to welcome my brother, Amir of Qatar HH Sheikh Tamim Bin Hamad Al Thani. Wishing him a fruitful stay in India and looking forward to our meeting tomorrow.”
During his visit, the Amir interacted with key Indian ministers and officials. Notably, external affairs minister Jaishankar had met the Qatari leader after his arrival.
Focus on trade and investment
According to the news agency PTI, Qatar has expressed readiness to accelerate negotiations for a new ‘Bilateral Investment Promotion and Protection Agreement’ (BIPPA) with India.
Qatari commerce and industry minister Sheikh Faisal bin Thani bin Faisal Al Thani said that India is now Qatar’s third-largest trading partner.
“We have modernised our investment ecosystem… We invite Indian investors and entrepreneurs to explore the true potential of Qatar’s economy,” he said at the India-Qatar Business Forum organised by Confederation of Indian Industry (CII).
The bilateral trade between the two nations stood at $14 billion in 2023-24, down from $ 18.77 billion in the previous year. Qatar remains India’s largest supplier of LNG and LPG, while India exports cereals, iron and steel, textiles, and machinery to Qatar.
Speaking at the event, commerce and industry minister Piyush Goyal stressed upon the need to diversify trade beyond energy. “We are looking at a new future where trade transitions from energy dependence to new-age technologies like artificial intelligence, quantum computing, and semiconductors,” he said.
Two key MoUs were signed—one between the Confederation of Indian Industry (CII) and the Qatari Businessmen Association (QBA) and another between Invest India and Invest Qatar, paving the way for increased collaboration in trade and investment.
Additionally, the Qatar National Bank is expanding its presence in India by setting up an office in Gujarat’s GIFT City, further strengthening financial ties between the two nations.
Beyond economic cooperation, the leaders also discussed regional and global issues. The Gulf Cooperation Council (GCC), of which Qatar is a key member, is engaged in free trade discussions with India.
As per PTI, commerce minister Goyal mentioned that India remains open to both bilateral and multilateral trade agreements with GCC nations.
On the sidelines of the talks, the Indian rupee’s performance was also discussed, with Goyal saying that India’s forex reserves remain strong, ensuring stability in financial markets.