Recently, India hosted the First Joint Task Force on Investment (JTFI) meeting between India and Qatar.

Key highlight of the (JTFI) meeting

  • The Joint Task force was co-chaired by the Department of Economic Affairs, Ministry of Finance, Government of India, and Undersecretary of Ministry of Commerce and Industry, Government of the State of Qatar.
  • The Joint Task Force on Investment has reaffirmed the commitment of both Nations to strengthen bilateral relations. It includes a focus on fostering mutual growth and prosperity through strategic collaboration and partnership.

Significance of the JTFI

  • It underscored the robust economic relationship between India and Qatar, rooted in shared values, common objectives, and a shared vision for inclusive development.
  • Both nations aim to leverage their collective potential to accelerate growth and explore investment opportunities. This includes synergistic collaboration across diverse sectors such as infrastructure, energy, technology, and innovation.

Commercial & Investment Relations between India and Qatar

  • India’s bilateral trade with Qatar in 2023-24 was US$ 14.08 billion. 
  • India’s export to Qatar during the period was US$ 1.7 billion and India’s import from Qatar was US$ 12.38 billion. 
  • Qatar’s key exports to India include Liquefied natural gas (LNG), Liquefied petroleum gas (LPG), chemicals and petrochemicals, plastics, and aluminum articles.
  • In 2023, India was among the top three largest export destinations for Qatar (China and South Korea being the other two) and is also among the top four sources of Qatar’s imports, along with the USA, China, and Italy.

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