Saturday, June 22, 2024

Qatar and India Joint Working Group on Investment Holds Inaugural Meeting

  • Qatar and India held their first joint working group on investment in New Delhi to deepen economic ties.
  • The meeting saw the participation of high-ranking officials from both countries.
  • Trade volume between Qatar and India reached USD 13.46 billion in 2023, solidifying India as Qatar’s second-largest trading partner.
  • Qatar’s economic diversification drive aligns with India’s sectors of interest, including industry, logistics, IT, health, and education.
  • The working group aims to develop a strategic roadmap for economic interaction, focusing on priority sectors and mobilizing financial resources.

The State of Qatar and the Republic of India recently held the inaugural meeting of their joint working group focused on investment. This significant event took place in New Delhi and aimed to enhance and deepen the investment ties between the two nations.

Leadership and Attendance

The meeting was co-chaired by two prominent figures: HE Mohammed bin Hassan Al Maliki, the Undersecretary of the Ministry of Commerce and Industry of Qatar, and HE Ajay Seth, the Undersecretary of the Department of Economic Affairs at the Ministry of Finance of India.

Several high-ranking government officials from both countries also attended, underscoring the importance of this collaboration.

Economic Context

In his remarks, HE Mohammed bin Hassan Al Maliki highlighted the robust trade relationship between Qatar and India.

In 2023, the total trade volume between the two countries reached approximately USD 13.46 billion, positioning India as Qatar’s second-largest trading partner. Qatari corporations and private sector entities are notably active investors in the Indian market.

Strategic Vision and Sectors

HE Al Maliki emphasized that economic diversification is a key component of Qatar National Vision 2030.

He pointed out that the third national development strategy of Qatar identifies several sectors with high potential for partnership and bilateral investment. These sectors include industry, logistics services, information technology, digital and financial services, health services, education, and other vital areas.

Prospects for Collaboration

The joint working group aims to serve as a dynamic platform for fostering investment relations. Its objectives include developing a strategic roadmap to boost economic and investment interaction and building an investment partnership to enhance long-term strategic cooperation.

The group plans to support this partnership by mobilizing financial resources towards priority and mutually beneficial sectors.

Supporting Innovation and Startups

A significant focus of the joint working group is to enhance cooperation between startup ecosystems in both countries.

This includes supporting innovators and guiding companies to take advantage of opportunities presented by initiatives such as “Made in India” and “Made in Qatar.”

The group also aims to explore new investment sectors that can bolster investor confidence by simplifying investment procedures.

Outlook for the Future

HE Al Maliki expressed confidence that the joint efforts of Qatar and India will lead to increased mutual investments and shared prosperity.

The collaborative framework established by the joint working group is expected to pave the way for greater success and enhanced economic ties between the two nations.

Altogether, the first meeting of the Qatar-India joint working group on investment marks a significant step towards strengthening the economic and investment relations between the two countries.

With a clear focus on strategic sectors and innovation, this partnership promises to bring about substantial benefits and drive mutual growth.

Team QT
Team QThttp://www.qatarstalk.com
Staff writer at QatarsTalk.com

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