Key Points
India offers stability and predictability for global investments
Bilateral trade shifting from energy to emerging technologies
Two countries sign crucial MoUs for economic cooperation
Qatar and India align on long-term economic vision
Addressing the inaugural session of the India-Qatar Business Forum in the national capital on Tuesday, Goyal noted that the partnership between the two countries rests on the foundation of trust, trade and tradition.
Sheikh Faisal bin Thani bin Faisal Al Thani, Minister of Commerce and Industry of Qatar was the Guest of Honour at the session.
Union Minister Goyal said that the terms of trade are undergoing a change, evolving from energy trade to emerging technologies like artificial intelligence, Internet of things (IOT), quantum conducting, semiconductors etc.
The entire world is going through a major shift in the context of geopolitical tensions, climate change, cybersecurity threats and focus on localisation around the world, he noted.
The Minister stated that India and Qatar complement each other and can work together for prosperity and a better future.
Goyal added that together we are set for a transition in terms of trade, investments and highlighted the two MoUs signed between Qatari Businessmen Association (QBA) and Confederation of Indian Industry (CII) and another between Invest Qatar and Invest India.
The Minister also announced the elevation of the Joint Working Group on trade and commerce to the Ministerial level.
Goyal quoted Prime Minister Narendra Modi, "Today be it major nations or global platforms, the confidence in India is stronger than ever before", and urged the business leaders to work together with the same spirit and confidence.
The Minister noted that India offers a vibrant economy, a rich demography with young population, reforms in every sphere of business, focus on ease of doing business and quality at the centrepiece of our industrial evolution. India today provides an oasis of stability, predictability and continuity, he added.
Goyal also invited companies from Qatar to be a part of India's journey of growth in investments, manufacturing, renewable energy, expansion of smart cities and infrastructure development.
Qatar Vision 2030 and India's Viksit Bharat 2047 will together define a much bigger and brighter future for the people of the two countries, the minister said.
