India-Qatar maintain bilateral talks, goal to spice up financial and strategic cooperation | India Information – The Instances of India
NEW DELHI: Prime Minister Narendra Modi on Tuesday met Qatari Amir Sheikh Tamim Bin Hamad Al Thani in New Delhi.
The 2 leaders held delegation-level talks at Hyderabad Home, specializing in commerce, funding, and strategic cooperation.
PM Modi led the discussions, accompanied by exterior affairs minister S Jaishankar, finance minister Nirmala Sitharaman and senior officers. The Qatari delegation was headed by Amir Sheikh Tamim Bin Hamad Al Thani.
Earlier within the day, the Amir obtained a ceremonial guard of honour at Rashtrapati Bhavan, the place 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 obtain 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 keep in India and looking out ahead to our assembly tomorrow.”
Throughout his go to, the Amir interacted with key Indian ministers and officers. Notably, exterior affairs minister Jaishankar had met the Qatari chief after his arrival.
Give attention to commerce and funding
In line with the information company PTI, Qatar has expressed readiness to speed up negotiations for a brand new ‘Bilateral Funding Promotion and Safety Settlement’ (BIPPA) with India.
Qatari commerce and trade minister Sheikh Faisal bin Thani bin Faisal Al Thani mentioned that India is now Qatar’s third-largest buying and selling companion.
“Now we have modernised our funding ecosystem… We invite Indian buyers and entrepreneurs to discover the true potential of Qatar’s financial system,” he mentioned on the India-Qatar Enterprise Discussion board organised by Confederation of Indian Business (CII).
The bilateral commerce between the 2 nations stood at $14 billion in 2023-24, down from $ 18.77 billion within the earlier 12 months. Qatar stays India’s largest provider of LNG and LPG, whereas India exports cereals, iron and metal, textiles, and equipment to Qatar.
Talking on the occasion, commerce and trade minister Piyush Goyal harassed upon the necessity to diversify commerce past vitality. “We’re taking a look at a brand new future the place commerce transitions from vitality dependence to new-age applied sciences like synthetic intelligence, quantum computing, and semiconductors,” he mentioned.
Two key MoUs had been signed—one between the Confederation of Indian Business (CII) and the Qatari Businessmen Affiliation (QBA) and one other between Make investments India and Make investments Qatar, paving the best way for elevated collaboration in commerce and funding.
Moreover, the Qatar Nationwide Financial institution is increasing its presence in India by establishing an workplace in Gujarat’s GIFT Metropolis, additional strengthening monetary ties between the 2 nations.
Past financial cooperation, the leaders additionally mentioned regional and world points. The Gulf Cooperation Council (GCC), of which Qatar is a key member, is engaged in free commerce discussions with India.
As per PTI, commerce minister Goyal talked about that India stays open to each bilateral and multilateral commerce agreements with GCC nations.
On the sidelines of the talks, the Indian rupee’s efficiency was additionally mentioned, with Goyal saying that India’s foreign exchange reserves stay sturdy, making certain stability in monetary markets.
