Politics · India Bureau
Sitharaman pushes investment, trade deals during Qatar bilateral talks
Finance Minister Nirmala Sitharaman held wide-ranging discussions with Qatar officials in Doha, covering a proposed bilateral investment treaty, free trade agreement, and efforts to expand India's UPI payment system in the Gulf nation.
LSN India ·
During her visit to Doha, Sitharaman explored deepening economic ties with Qatar, a key investor and trading partner for India. The discussions centred on formalising bilateral investment protections through a Bilateral Investment Treaty (BIT) and negotiating a comprehensive Free Trade Agreement (FTA) to boost two-way commerce.
Qatar has previously committed to investing $10 billion in India across various sectors, a pledge that featured prominently in the bilateral talks. The investment commitment underscores Qatar's confidence in India's economic trajectory and signals the Gulf nation's intent to expand its portfolio in the South Asian market.
Sitharaman also pressed for greater integration of India's Unified Payments Interface (UPI) system in Qatar's financial landscape. The digital payment platform, which has emerged as a cornerstone of India's fintech ecosystem, offers an avenue for streamlined remittances and cross-border transactions between the two nations.
The discussions reflect India's broader strategy to strengthen economic partnerships with Gulf Cooperation Council nations while promoting domestic financial technologies in the region. Both countries are expected to advance negotiations on the proposed BIT and FTA frameworks in the coming months.