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Wednesday, August 4, 2021

Qatar, India to boost economic investments

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The two countries hold a long history of business relations, registering at least a 42% trade growth from 2016-to-2018.

Doha and New Delhi announced plans to set up a special task-force to promote investments by the Qatar Investment Authority to India, authorities said on Tuesday.

The latest development came after a telephone conversation between Qatar’s Amir Sheikh Tamim bin Hamad Al Thani and Indian Prime Minister Narendra Modi, the Indian embassy in Doha said.

Both leaders discussed issues of mutual interest within the region and beyond, as well as several “robust cooperations” between the two countries across several fields, including energy security.

The allies also discussed investments in India’s energy value-chain.

Read also: Qatar visa centre in India to reopen within days

Qatar and India have a long history of trade relations.

In 2019, the two countries recorded a 42% growth in bilateral trade over two years, rising from $8.53 billion in 2016 to $12.12 billion in 2018.

Doha also imports a variety of goods from New Delhi, which include rice, iron and steel, refrigerators, furniture, footwear, freezers, machineries, apparel, and medical supplies.

With over 600,000 Indians, the Gulf country also has a large population of Indian expats that make up at least 25% of the entire population.


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