Qatar ready to step up investments in India
New Delhi: India and Qatar held a high-level meeting here on Thursday focused on the opportunities for enhancing Qatari investments in India, especially in sectors like infrastructure, advanced manufacturing, transport, logistics, food processing, health, semiconductors, and finance.
The discussions were held to move ahead with the commitment of Qatar to invest $10 billion and open an office of the Qatar Investment Authority (QIA) in India, made during the state visit of Qatar’s Amir to India in February this year.
In this context, the two countries decided to further promote discussions for investments by the QIA and other Qatari entities, focusing on key sectors and specific projects and companies. The Qatari side conveyed that they see various opportunities for investments in India given the country’s economic growth and technological development, according to an official statement issued after the meeting.
The meeting was co-chaired by Union Minister of State for Finance Pankaj Chaudhary, Union Minister of State for Finance, and Qatar’s Minister of State for Foreign Trade Affairs Ahmad bin Mohammed Al Sayed.
The high-level stakeholders’ meeting with the delegation from Qatar was hosted by the Department of Economic Affairs (DEA), Ministry of Finance, to strengthen bilateral investment cooperation between the two countries.
The Qatari delegation is on a visit to New Delhi from August 27 to 28 and includes representatives from Qatar’s Ministries of Commerce & Industry, Transport, Communications & IT and Municipality, as well as representatives from entities like the Qatar Investment Authority, Qatar Airways, QTerminals, Hassad Foods, Qatar Chamber of Commerce, and Qatar Businessmen Association.
The QIA has made investments in a number of sectors in India, such as retail, utilities, media, housing, healthcare and realty. The Indian community in Qatar has also made investments in Qatar, especially in the small and medium enterprises (SME) sector.
The visit of the high-level delegation from Qatar will facilitate a deeper understanding of the available opportunities in India and contribute in strengthening the investment partnership between the two sides, the official statement added.