India and Qatar to Deepen Ties with $10 Billion Investment and Office Opening
In a move to strengthen bilateral relations, Qatar has pledged to invest $10 billion in India. Additionally, the Qatar Investment Authority (QIA) will establish an office in the South Asian nation.
The investment commitment was announced during a bilateral meeting in New Delhi between Qatar's Amir Sheikh Tamin Bin Hamad Al-Thani and Indian Prime Minister Narendra Modi. The QIA's office in India is expected to facilitate the investment process.
The two countries also signed agreements regarding bilateral strategic partnership and a revised double taxation avoidance agreement. Negotiations on the India-Qatar Bilateral Investment Treaty are underway and are expected to be expedited.
Qatar has previously invested in Indian companies such as Reliance Industries' retail venture and Adani Group's power distribution unit. It is also India's largest supplier of liquefied natural gas.
The joint statement issued after the meeting did not provide a specific timeline for the inward investments.