Qatar to invest $10 billion in India

Qatar plans to invest $10 billion in India, as well as have its sovereign wealth fund open an office there. 

The GCC nation is keen to explore investment opportunities across infrastructure, technology, manufacturing, food security, logistics, hospitality, and other areas of mutual interest, according to a joint statement issued during Qatari Emir Amir Sheikh Tamim bin Hamad Al-Thani’s official visit to India in February. 

Qatar Investment Authority will open an office in India, though the statement did not state the city where the sovereign wealth fund would maintain its presence. 

Qatari Emir and Indian Prime Minister Narendra Modi witnessed an agreement on establishing a bilateral strategic partnership. A revised agreement for the avoidance of double taxation was also signed, while both nations agreed to expedite negotiations on the India-Qatar Bilateral Investment Treaty. 

Both countries also agreed to consider a forging a bilateral comprehensive economic partnership agreement. India has an existing CEPA with Qatar’s maritime neighbour UAE. 

QIA has invested in Adani Green Energy, an Indian renewable energy company and Mukesh Ambani’s Reliance Retail Ventures.