India, Qatar target double trade

(MENAFN) India and Qatar have elevated their bilateral relations to a "strategic partnership" with a focus on trade, investments, technology, energy, and people-to-people ties, aiming to double trade between the two nations by 2030. During the official visit of Emir of Qatar Sheikh Tamim bin Hamad Al Thani to New Delhi, several agreements were signed to strengthen cooperation, including a revised deal to avoid double taxation. The trade between the two countries currently stands at approximately $20 billion, with expectations to reach $28 billion within the next five years.

The two leaders discussed key areas like economic partnership, energy collaboration, and space technology. Qatar is India's largest supplier of liquefied natural gas (LNG), accounting for over 48% of India's global LNG imports, with the nation supplying 10.74 million metric tons (MMT) of LNG to India in fiscal year 2022-23. Qatar is also the largest supplier of liquefied petroleum gas (LPG) to India.

The visit saw Qatar's Emir also engage with business leaders at a bilateral business forum and discuss AI, LNG, sustainability through carbon capture, and other areas for future collaboration. This visit follows Indian Prime Minister Modi’s recent trip to the US, where energy agreements were also discussed.

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