Qatar has pledged a massive 10 billion dollars investment across key sectors in India, marking a major boost to trade and business ties between the two nations. The announcement came after a high-profile visit by Qatar’s Emir Sheikh Tamim Bin Hamad al-Thani to New Delhi.

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Qatar commits $10 billion investment in India

In a significant step towards strengthening bilateral relations. Qatar has committed to investing 10 billion dollars in India. Currently, Qatar’s foreign direct investment has flowed into India into a variety of industries, including telecommunications, retail, education, healthcare, information technology, electricity, and affordable housing.

The latest investment plan will span infrastructure, technology, manufacturing, food security, logistics, hospitality, and more. The announcement follows the first visit by a Qatari Emir to India in a decade.

Amir of the state of Qatar, Sheikh Tamim bin Hamad al Thani, said, "Last year we witnessed significant progress in our cooperation, especially in the energy sector, with the signing of an important agreement between our two countries in the fields of trade and mutual investments."

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"Additionally, our countries reached an agreement to establish a strategic partnership, reflecting a strong commitment to developing cooperation in various fields and enhancing the bonds between our people."

Trade between India and Qatar is already substantial. Bilateral trade between both the nations stood at 18.77 billion dollars. With liquefied natural gas or LNG being the major contributor. Qatar accounted for 48 per cent of India’s LNG imports, solidifying its role as a key energy partner.

India's exports to Qatar includes copper, construction material, cereals, vegetables, fruits, spices, and processed food products, electrical and other machinery, textiles and garments, chemicals and precious stones.

Looking ahead, both countries aim to double trade volumes to 28 billion dollars within the next five years. Additionally, discussions are underway for a potential free trade agreement which could further boost economic ties.

The agreement also explores deeper energy cooperation. Mutual investments in infrastructure and the settlement of trade in domestic currencies, a move that could reduce dependency on the dollar and enhance financial flexibility.

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(With the inputs from the agencies)