India, Qatar Target $28 Billion Trade Within Five Years

India and Qatar have set an ambitious target to double their bilateral trade to $28 billion over the next five years, as discussed during a meeting between Indian Prime Minister Narendra Modi and Qatar's Emir Sheikh Tamim bin Hamad Al-Thani. The two leaders, who met during the Emir's two-day visit to New Delhi, also explored the possibility of a Free Trade Agreement (FTA) and emphasized strengthening energy cooperation. Currently, trade between the nations stands at approximately $14 billion annually, with significant historical ties in trade and investment. Key agreements signed include the formalization of a strategic partnership and a revised double taxation avoidance agreement, along with several memoranda of understanding in various sectors. Energy remains a critical component of their relationship, highlighted by Qatar's role as a major supplier of liquefied natural gas to India. The discussions underscore the growing importance of India-Qatar relations in the context of regional trade dynamics.