India and Qatar have agreed to intensify their economic engagement with a shared goal of doubling bilateral trade by 2030, Union Commerce and Industry Minister Piyush Goyal said during his two-day visit to Doha. The discussions, reported by the Ministry of Commerce and Industry, took place as Goyal co-chaired the India–Qatar Joint Commission on Economic and Commercial Cooperation with his Qatari counterpart Sheikh Faisal bin Thani bin Faisal Al Thani.
Stronger trade and investment cooperation
Both ministers reviewed the current state of bilateral trade, valued at around $14 billion and agreed there was considerable room for growth. They discussed ways to remove existing trade barriers, improve market access and expand cooperation in areas such as finance, agriculture, healthcare, technology and energy.
Goyal acknowledged Qatar’s importance as one of India’s key energy suppliers, including the long-term LNG deal of 7.5 million tonnes per year from 2028 and stressed the need to diversify the trade basket by boosting India’s exports. Promising areas identified for collaboration include electronics, automobiles, pharmaceuticals, processed food, textiles, gems and jewellery, IT services, solar energy and emerging technology sectors.
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Both sides also reaffirmed their intent to work towards an ambitious Comprehensive Economic Partnership Agreement (CEPA) to strengthen institutional and business ties between the two countries.
Joint Business Council meeting in Doha
The Commerce Ministers jointly addressed the India-Qatar Joint Business Council (JBC) meeting, which brought together senior representatives from FICCI, CII, ASSOCHAM, and the Qatar Chamber, along with leading business delegates from both nations.
Promoting sustainability and new partnerships
The Minister began his visit by paying tribute to Mahatma Gandhi at the Embassy of India in Doha, followed by planting a sapling under the “Ek Ped Maa Ke Naam” initiative, symbolising India’s commitment to sustainability and green growth.
On the sidelines of the Joint Commission, Goyal held several meetings with Qatari dignitaries and business leaders, exploring potential collaborations in technology transfer, investment flows, and joint ventures. These engagements, officials said, are expected to pave the way for deeper long-term cooperation between Indian and Qatari enterprises.
UPI launch marks digital milestone
In a major step towards enhancing digital connectivity, the Minister inaugurated the Unified Payments Interface (UPI) at Lulu Mall, The Pearl Island, marking the first such launch in Qatar. The move will allow the Indian diaspora and local residents to make instant, secure digital payments, reflecting the growing strength of India’s fintech sector and its expanding global footprint.
Diaspora’s role in strengthening relations
Addressing members of the Indian community in Doha, Goyal lauded their contributions to Qatar’s development and their role in strengthening bilateral relations. He highlighted that under the leadership of Prime Minister Narendra Modi and His Highness the Amir of Qatar, ties between the two countries have been elevated to a strategic partnership.
Goyal emphasised India’s goal of becoming a Viksit Bharat by 2047 and urged the Indian diaspora to continue acting as a bridge between the two nations. He said their participation and innovation would be vital in advancing India’s global partnerships and inclusive growth agenda.
A vision for the next decade
The visit, according to the Ministry, reflects India’s broader diplomatic and economic push to deepen partnerships with Gulf nations. With shared ambitions for sustainable growth and digital transformation, India and Qatar aim to expand cooperation in trade, investment, technology, and energy security laying the groundwork for a stronger, future-ready economic relationship.
