Doubling India-Qatar Bilateral Trade by 2030: A Vision of Economic Prosperity

In a landmark visit to Doha, Qatar, Union Minister of Commerce and Industry Piyush Goyal set forth an ambitious goal for the future of India-Qatar relations. On October 7, 2025, Minister Goyal announced that bilateral trade between the two nations could potentially double by the year 2030. This visionary statement was made during his official visit to co-chair a pivotal meeting of the India-Qatar Joint Commission on Economic and Commercial Cooperation.

The backdrop for this historic initiative is rooted in shared aspirations and longstanding ties between India and Qatar, two vibrant economies with rich cultural heritages. Minister Goyal’s visit began symbolically at the Embassy of India in Doha where he paid floral tributes to a statue of Mahatma Gandhi—a nod to the enduring principles of peace and sustainability that guide India’s international engagements.

The meeting addressed current economic landscapes and sought ways to overcome existing trade barriers, aiming to foster cooperation across various sectors such as finance, agriculture, healthcare, and emerging technologies. Both Minister Goyal and his Qatari counterpart, Sheikh Faisal bin Thani bin Faisal Al Thani, emphasized the importance of strengthening trade ties while exploring new avenues for economic collaboration.

Despite facing global economic challenges and supply chain disruptions, India remains a beacon of macroeconomic stability with a thriving start-up ecosystem that attracts global businesses. Minister Goyal urged both Indian and Qatari enterprises to seize these opportunities, reinforcing his call during the inaugural face-to-face meeting of the Joint Business Council (JBC). This council included senior representatives from notable business organizations like FICCI, CII, ASSOCHAM, and the Qatar Chamber.

The dialogue extended beyond mere policy discussion; it encompassed high-level interactions with Qatari dignitaries and corporate leaders. These meetings aimed to enhance investment flows, establish technology partnerships, and forge joint ventures that will benefit both nations. A significant milestone during the visit was the launch of India’s Unified Payments Interface (UPI) at Lulu Mall in The Pearl Island—a step forward in facilitating seamless digital transactions for the Indian diaspora and local consumers.

As part of his engagements, Minister Goyal also addressed the vibrant Indian community in Qatar, acknowledging their contributions to both countries’ development. He highlighted India’s rapid economic growth and its vision for a “Viksit Bharat” (Developed India) by 2047, encouraging the Indian diaspora to play an instrumental role as bridges between the two nations.

Both leaders reaffirmed their commitment to pursuing a comprehensive economic partnership agreement that will pave the way for increased bilateral trade. While recognizing Qatar’s pivotal role in supplying energy resources to India, Minister Goyal stressed the need to enhance India’s exports to Qatar, particularly in promising sectors such as electronics, automobiles, pharmaceuticals, processed food, textiles, gems and jewelry, IT, high-tech industries, and solar energy.

The visit culminated in a reaffirmation of strategic partnership ambitions between the two countries, setting an optimistic tone for future collaborations. As both India and Qatar work towards doubling their bilateral trade by 2030, this initiative stands as a testament to their shared commitment to prosperity, innovation, and global cooperation.

Original article source: India Gazette