Qatar to invest $10 billion in India as trade ties expand beyond energy
The announcement came as Qatar's emir wrapped up a two-day state visit to India.
DUBAI — Qatar has pledged to invest $10 billion in India and is working toward a free trade agreement with South Asia's largest economy. The announcement follows the Qatari emir's arrival in India on Monday for a two-day visit.
Qatar plans to "explore investment opportunities in different sectors, including infrastructure, technology, manufacturing, food security, logistics, hospitality and other areas of mutual interest," read a joint Qatar-India statement.
Trade between both sides averages $14 billion annually, and the Gulf state's sovereign wealth fund, Qatar Investment Authority, has invested in $1.5 billion worth of assets in India to date in retail, power, information technology, education, health and affordable housing.
"Both sides are exploring the possibility of signing a free trade agreement in the future, and that was one of the discussions that took place in this round of talks," Arun Kumar Chatterjee, additional secretary in India's External Affairs Ministry, told reporters on Tuesday.
