India, Qatar Near Finalization of Bilateral Trade Deal Terms

India and Qatar are expected to finalize the terms of reference for a bilateral trade agreement in October, marking a significant step toward enhancing economic cooperation between the two countries. Commerce and Industry Minister Piyush Goyal is likely to visit Qatar to discuss and finalize the trade deal further. This potential free trade agreement (FTA) aims to double bilateral trade to USD 28 billion over the next five years, following the elevation of their relationship to a strategic partnership earlier this year. The two nations have already signed agreements on strategic partnership and revised double taxation avoidance, along with several memoranda of understanding to strengthen cooperation in various sectors. Additionally, progress continues on India's trade pact with the European Union, with the 13th round of FTA talks currently underway in New Delhi. The discussions with Qatar and the EU reflect India's broader efforts to expand trade ties and economic partnerships internationally.