India And Qatar Agree To Double Trade, Forge Stronger Strategic Partnership

India and Qatar on Tuesday agreed to double bilateral trade to USD 28 billion over the next five years and announced elevation of their relationship to the level of strategic partnership as Prime Minister Narendra Modi held wide-ranging talks with Amir Sheikh Tamim Bin Hamad Al-Thani.

The two sides also signed two agreements in the presence of Modi and the Amir here. The first is on establishment of a strategic partnership and a revised double taxation avoidance agreement was also signed.

The two sides also signed five memoranda of understanding (MoUs) to strengthen economic partnership, step up ties in areas such as management of archives, and cooperation in youth affairs and sports.

"The strategic partnership agreement actually elevates the present state of bilateral relationship to a strategic level. What we are looking at is deepening cooperation in fields of trade, energy security, as well as in regional and international fora," Arun Kumar Chatterjee, Secretary, Ministry of External Affairs, told reporters here after the talks.

In response to a query, he said the strategic partnership agreement will cover the "entire spectrum" of the bilateral relationship.

"Definitely, a road map will be drawn for cooperation in future and then both sides will work towards implementing the strategic partnership agreement. As and when the security related issues would come up within the agenda, definitely will be discussed under the strategic partnership agreement," the secretary said.

Modi and the Amir held talks with focus on trade, investments, technology, energy and people-to-people ties, further cementing the "deep and traditional relationship" between the two countries, the MEA said.

Chatterjee said Modi and the Qatari Amir also decided to set a target to double bilateral trade from the current USD 14 billion to USD 28 billion over the next five years.

Last year, during Modi's visit to Qatar, India had signed a USD 78 billion deal to extend LNG imports from the Gulf nation by another 20 years till 2048 at rates lower than the then prevailing prices.

They also exchanged views on "regional and global issues" of mutual interest, Naturally, the Middle East situation and the evolving situation over there came up for discussions. Both sides conveyed their mutual positions that we have on the Israel-Hamas issue. India conveyed its own position, the Qatari side conveyed their own position and we exchanged views. Both the leaders had discussions on that," Chatterjee said when asked if the West Asia situation figured in the talks.

He was also asked what will the strategic partnership entail and if defence cooperation is expected to be part of it.

"At this moment, we are not talking about any kind of defence-related cooperation," he said.

Earlier in the day, the Amir was accorded a ceremonial guard of honour at the Rashtrapati Bhavan as President Droupadi Murmu welcomed the visiting leader. Modi was also present on the occasion.

The Amir arrived here on Monday evening, his visit coming almost a year after Modi had visited the Gulf nation in February 2024.

Extending a rare gesture of hospitality, Modi received him at the Delhi airport on Monday evening. He welcomed him with a warm handshake and hug, displaying the bonhomie between the two leaders.

India and Qatar today enjoy "deep-rooted friendly relations anchored in historic trade and people-to-people ties".

Both countries commemorated the 50 years of establishment of diplomatic relations in 2023.

The Amir is accompanied by a high-level delegation, which includes Qatar's Prime Minister and Minister of Foreign Affairs, Sheikh Mohammed Bin Abdulrahman Al Thani, as well as the ministers of commerce and industry, energy, electronics and information technology, labour, and the Minister of State for foreign trade, Chatterjee said.

CEOs of several top Qatari entities such as Qatar Investment Authority and Qatar Tourism are also part of the delegation, he said.

The Amir has a meeting with President Murmu later in the evening. She will also host a banquet reception in honour of the Amir and the accompanying delegation thereafter.

Qatar is also an important partner for investments in India.

"Both leaders today identified a number of areas in which the Qatar Investment Authority can increase investments in India. This includes infrastructure, ports, shipbuilding, energy including renewable energy, smart cities, food parks, start-ups, and new technologies such as artificial intelligence, robotics, and machine learning," Chatterjee said.

Also, a Joint Business Forum was held on Tuesday in which top industrialists, companies and institutions of both countries held very productive interactions.

Earlier, the Joint Business Council between India and Qatar met virtually, and the Amir's visit should lead to "further growth in mutual investments," Chatterjee said.

India and Qatar share a "very vibrant partnership" in the area of energy.

"Qatar is a major source of LNG for India. Both leaders today noted that in February 2024, Qatar Energy and Petronet LNG Limited had signed an agreement for supply of 7.5 million metric tonnes per annum of LNG from Qatar to India for 20 years starting 2028," Chatterjee said.

Both leaders also discussed ways to further strengthen and broaden the energy partnership including "exploring mutual investments".

The Amir's visit provided an "excellent opportunity" for the top leadership of the two countries to discuss and "cement a strategic partnership for enhanced future cooperation", the MEA official asserted.