Strengthening Ties: India-Qatar Business Forum 2025
The India-Qatar Joint Business Forum took place on February 18, 2025, in New Delhi, coinciding with the visit of H.H. Sheikh Tamim bin Hamad bin Khalifa Al Thani, the Amir of Qatar. This significant event was organized by the Confederation of Indian Industry (CII) in collaboration with the Department for Promotion of Industry and Internal Trade (DPIIT). The forum aimed to enhance economic cooperation between India and Qatar, focusing on various sectors beyond traditional energy trade. Key figures, including Shri Piyush Goyal, India’s Minister of Commerce and Industry, and H.E. Sheikh Faisal bin Thani bin Faisal Al Thani, Qatar’s Minister of Commerce and Industry, delivered keynote addresses that set the tone for the discussions.
Vision for Economic Growth
During the inaugural session, Union Minister Shri Piyush Goyal articulated India’s ambitious goal of becoming a USD 30-35 trillion economy by 2047. This vision aligns with the broader Viksit Bharat initiative, which aims for a developed India. Goyal emphasized that while India and Qatar have a rich history of energy trade, their future collaboration should extend into advanced sectors such as artificial intelligence (AI), quantum computing, the Internet of Things (IoT), and semiconductors. He pointed out that as global geopolitical dynamics shift and cybersecurity threats grow, self-reliance, or Atmanirbharta, has become a priority for both nations.
Goyal highlighted the unique competitive advantages each country possesses, suggesting that India and Qatar can complement each other’s strengths. He stressed the importance of entrepreneurship, technology, and sustainability as the pillars of their partnership. By fostering innovation and collaboration, both nations can shape the industries of tomorrow. Goyal also invited Qatari businesses to explore opportunities in India’s dynamic economy, particularly in the Gujarat International Finance Tech-City (GIFT City), which is poised to become a hub for financial technology.
A Tradition of Mutual Respect
H.E. Sheikh Faisal bin Thani bin Faisal Al Thani echoed Goyal’s sentiments, emphasizing that the relationship between Qatar and India is built on mutual respect and shared interests. He noted that India has become Qatar’s third-largest trading partner, highlighting the flourishing trade partnership between the two nations. Sheikh Faisal invited Indian investors to explore the diverse opportunities within Qatar’s economy and infrastructure, reinforcing Qatar’s position as a dynamic and investor-friendly destination.
The forum also featured remarks from Shri Jitin Prasada, India’s Union Minister of State for Commerce and Industry. He pointed out that India has attracted USD 709 billion in foreign direct investment (FDI) over the past decade, supported by extensive reforms aimed at enhancing the ease of doing business. Prasada emphasized India’s leadership in innovation, citing the existence of over 155,000 startups across various sectors, from space technology to agriculture. He also highlighted the importance of digital transformation, mentioning the partnership between Qatar National Bank and the National Payments Corporation of India to enhance digital payments.
Exploring New Avenues of Collaboration
The discussions at the forum underscored the need for India and Qatar to explore emerging industries beyond traditional energy sectors. H.E. Dr. Ahmad Al-Sayed, Qatar’s Minister of State for Foreign Trade Affairs, emphasized the importance of collaboration in sectors such as electric vehicles, manufacturing, and other non-oil and gas industries. Qatar has established the Qatar Financial Centre (QFC) to attract businesses and facilitate private equity investments, positioning itself as a key partner for India.
The forum also highlighted the potential for collaboration in high-quality solar grid polysilicon manufacturing, among other sectors. With India’s expertise in digitalization and Qatar’s ambitious digital transformation plans, both nations are well-positioned to leverage each other’s strengths. The event culminated in the signing of two key Memorandums of Understanding (MoUs) aimed at enhancing business cooperation and investment flows between the two countries.
A Commitment to Sustainable Growth
The India-Qatar Joint Business Forum showcased a commitment to advancing trade, investment, and technology collaboration. With bilateral trade surpassing USD 15 billion in FY 2023-24, both nations recognize the significant untapped potential for growth. The forum featured panel discussions on investments, logistics, advanced manufacturing, and futuristic areas such as AI and sustainability.
Shri Sanjiv, Joint Secretary of DPIIT, emphasized that the India-Qatar business delegation would serve as a catalyst for stronger partnerships. He welcomed Qatar’s participation in the upcoming Startup India Mahakumbh 2025, which aims to foster deeper collaborations in the technology and innovation ecosystem. As both nations strengthen their economic ties, they are poised to drive prosperity, innovation, and sustainable growth, unlocking a new chapter in their historic partnership.
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