During the Commission meetings, the two sides explored cooperation across multiple priority sectors, including trade, finance, agriculture, healthcare, technology, tourism, transport, education, and sustainability.
Qatar and India are accelerating efforts to deepen economic cooperation, aiming to double bilateral trade to $30 billion by 2030 from the current $14 billion, as both nations pursue a strategic partnership and a prospective Free Trade Agreement (FTA).
The announcement was made during Minister of Commerce and Industry Piyush Goyal’s visit to Doha on 6 October, where he met Sheikh Faisal bin Thani Al Thani, Qatar’s Minister of Commerce and Industry, to progress negotiations on the FTA and explore ways to expand trade and investment ties.
The fifth session of the Qatar–India Joint Commission on Economic and Commercial Cooperation, co-chaired by Sheikh Faisal and Minister Goyal, served as a platform to review the overall bilateral economic relationship and identify new avenues for collaboration.
According to Qatar News Agency report, Sheikh Faisal emphasised “the depth and strength of bilateral relations between the State of Qatar and the Republic of India, noting that the committee represents an important platform for discussing various economic issues of mutual interest, following up on the results achieved, and enhancing cooperation in the fields of trade and investment.”
He noted India’s role as Qatar’s third-largest trading partner, with bilateral trade reaching $13.1 billion in 2024, and highlighted the importance of private sector participation in fostering joint investments and innovation-driven growth.
The minister also stressed Qatar’s ongoing legislative reforms and enhancements to its business environment, aligned with the Qatar National Vision 2030 and the Third National Development Strategy (2024–2030).
During the Commission meetings, the two sides explored cooperation across multiple priority sectors, including trade, finance, agriculture, healthcare, technology, tourism, transport, education, and sustainability.
They agreed to take concrete steps to facilitate the movement of goods, services, and investments, and to strengthen institutional partnerships that support long-term economic growth.
Sheikh Faisal also participated in the launch of the Qatar–India Joint Business Council, describing it as a significant milestone for private sector engagement and a vehicle for identifying emerging business opportunities. He expressed confidence that the Council would broaden economic integration and create mutual benefits through increased trade and investment.
Minister Goyal highlighted the strategic significance of the Amir of Qatar’s state visit to India earlier this year, which elevated the bilateral relationship to a strategic partnership. He described the Joint Commission and the Business Council as important assets for sustained dialogue, adding that the leaders of both countries recognised the untapped potential to double trade by 2030.
He identified promising sectors for growth, including electronics, automobiles, pharmaceuticals, processed food, textiles, gems and jewellery, IT, high-tech industries, and solar energy.
Goyal noted that India is actively diversifying its trade with Qatar, which currently relies heavily on energy imports, as evidenced by a trade deficit of $10.78 billion, with petroleum and gas products accounting for nearly 90 percent of imports.
The FTA negotiations, Goyal stated, are expected to be finalised by mid-2026 or the third quarter of the year, with terms of reference under discussion and likely to be concluded shortly.
“The discussions were about swiftly launching the FTA negotiations. The talks will be fast-tracked as soon as the terms of reference are finalised. I would think that sometime by the middle of next year, or third quarter of next year, we will be able to finalise an FTA, if not earlier,” he told reporters.
Both ministers highlighted the importance of the upcoming LNG supply agreement, which will deliver 7.5 million tonnes per year from 2028, cementing Qatar’s role as a long-term energy partner for India.
Alongside trade and investment discussions, Goyal also held several high-level meetings today to further strengthen bilateral ties.
In particular, he met with Sheikh Mohammed bin Abdulrahman Al Thani, Prime Minister and Minister of Foreign Affairs of Qatar, where they discussed collaborative strategies to expand economic and strategic cooperation, aiming to ensure the India-Qatar relationship continues to grow under the visionary leadership of both nations.
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