Indian Economy News

India-Qatar bilateral trade can be doubled by 2030: Union Minister of Commerce & Industry Mr. Piyush Goyal

Union Minister of Commerce and Industry, Mr. Piyush Goyal, is on an official visit to Doha, Qatar, from October 6-7, 2025, to co-chair the India-Qatar Joint Commission on Economic and Commercial Cooperation alongside Minister of Commerce and Industry of the State of Qatar, Mr. Sheikh Faisal bin Thani bin Faisal Al Thani. The visit commenced with a floral tribute to Mahatma Gandhi’s statue at the Embassy of India in Doha, followed by the planting of a sapling under the Ek Ped Maa Ke Naam initiative, symbolising India’s commitment to sustainability. During the bilateral meeting, both ministers reviewed the overall trade relationship, addressed existing barriers, and explored new areas of collaboration in sectors such as finance, agriculture, and healthcare. They jointly addressed the India-Qatar Joint Business Council meeting, attended by senior representatives from the Federation of Indian Chambers of Commerce & Industry (FICCI), Confederation of Indian Industry (CII), Associated Chambers of Commerce and Industry of India (ASSOCHAM), and the Qatar Chamber, reaffirming mutual confidence in deepening economic engagement despite global headwinds.

The ministers co-chaired the Joint Commission meeting, focusing on strengthening trade and investment, resolving non-tariff challenges, and exploring potential under an India-Qatar Comprehensive Economic Partnership Agreement. He emphasised the need to boost India’s exports to Qatar and double bilateral trade, currently valued at Rs. 1,24,250 crore (US$ 14 billion), by 2030. Key growth areas identified include electronics, automobiles, pharmaceuticals, processed food, textiles, gems and jewellery, IT, renewable energy, and high-tech industries. On the sidelines, he met Qatari dignitaries and business leaders to discuss investment opportunities and technology partnerships. He also launched the Unified Payments Interface (UPI) at Lulu Mall, The Pearl Island, marking a milestone in digital cooperation. Addressing the Indian community in Qatar, he highlighted their vital contribution to bilateral ties. He reaffirmed India’s goal of becoming a Viksit Bharat by 2047.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.