During his official visit to Doha on October 6–7, 2025, Union Minister of Commerce and Industry, Piyush Goyal, co-chaired the India–Qatar Joint Commission on Economic and Commercial Cooperation with Qatari Minister Sheikh Faisal bin Thani bin Faisal Al Thani. The discussions focused on advancing a Comprehensive Economic Partnership Agreement (CEPA), enhancing bilateral trade, and exploring collaborative ventures beyond traditional sectors. Minister Goyal emphasized the potential to double bilateral trade to $30 billion by 2030 and encouraged Indian firms to partner with Qatari businesses for investments and third-country projects.
Advancing the Comprehensive Economic Partnership Agreement (CEPA)
The India–Qatar CEPA aims to facilitate deeper economic integration between the two nations. Minister Goyal highlighted the strategic importance of finalizing the Terms of Reference for the agreement, which is expected to be concluded shortly. The CEPA is anticipated to address existing trade barriers, promote trade in goods and services, and foster investment flows, thereby strengthening the economic partnership.
Doubling Bilateral Trade by 2030
Minister Goyal outlined an ambitious goal to increase bilateral trade from approximately $14 billion in 2024–25 to $30 billion by 2030. He identified sectors such as electronics, automobiles, pharmaceuticals, and textiles as areas with significant untapped potential for collaboration. The proposed CEPA is expected to play a crucial role in achieving this target by providing a framework for enhanced trade relations.
Encouraging Strategic Partnerships
Minister Goyal emphasized the enthusiasm in Qatar for forming partnerships with Indian businesses, not only for investments within the two countries but also for joint ventures in third countries. He cited examples like Al Balagh's collaboration with Larsen & Toubro in Qatar, which is now exploring similar projects in other regions. The Qatar Development Bank has expressed willingness to provide guarantees for financing such ventures, indicating strong institutional support for cross-border collaborations.
Exploring New Avenues for Collaboration
The discussions also covered potential partnerships in emerging sectors such as finance, agriculture, healthcare, technology, and renewable energy. Both sides recognized the importance of diversifying economic engagement beyond traditional sectors to ensure balanced and sustainable growth. The CEPA is expected to facilitate cooperation in these areas, leveraging each country's strengths to create mutually beneficial opportunities.
Strengthening Digital Connectivity
In a move to enhance digital connectivity, Minister Goyal inaugurated the Unified Payments Interface (UPI) at Lulu Mall in Doha, facilitating seamless financial transactions between India and Qatar. This initiative is part of broader efforts to integrate digital payment systems and promote financial inclusion, benefiting businesses and consumers in both countries.
Conclusion
The India–Qatar Joint Commission meeting underscores a shared commitment to deepening economic ties and exploring new avenues for collaboration. With the CEPA serving as a cornerstone, both nations are poised to strengthen their economic partnership, aiming for a significant increase in bilateral trade and fostering strategic partnerships across various sectors.
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