With an aim to fast-track the trade pact process, Finance Minister Nirmala Sitharaman, on the sidelines of the annual meeting of the Asian Infrastructure Investment Bank (AIIB), held meetings with Qatar’s finance and foreign trade ministers to discuss the early conclusion of the Bilateral Investment Treaty (BIT) and continued engagement towards a Free Trade Agreement (FTA). Sitharaman met Qatar’s Finance Minister Ali bin Ahmed Al Kuwari, with discussions focusing on the expansion of India’s Unified Payments Interface (UPI) system in Qatar and the finalisation of the BIT.
During her meeting with Qatar’s Minister of State for Foreign Trade Ahmad bin Mohammed Al-Sayed, Sitharaman conveyed that India attaches high importance to deepening trade and investment ties with Qatar. She emphasised the need to restore normal trade between India and Qatar, as well as with other Gulf countries, including ensuring unimpeded maritime navigation and commerce through the Strait of Hormuz. The two sides also discussed the implementation of Qatar’s $10 billion investment commitment and the establishment of a Qatar Investment Authority (QIA) office in India. They further discussed the Double Taxation Avoidance Agreement as a strengthened framework to provide greater certainty for trade, investment and taxation.
Separately, Sitharaman addressed a business roundtable organised by the Qatari Businessmen Association (QBA), where the Indian side highlighted the country’s strong structural growth momentum. Real GDP growth accelerated to 7.8 per cent in the first quarter of FY26, while investment grew by 11.9 per cent, underscoring the resilience of the Indian economy amid global uncertainty. During the interaction, she discussed emerging economic opportunities in both countries and encouraged Qatari businesses to actively explore trade and investment partnerships, with a view to further strengthening bilateral economic ties.
