Doha, Oct 6 (PTI) – On Monday, India and Qatar explored strategies to boost bilateral trade and investment opportunities. Commerce and Industry Minister Piyush Goyal, on a two-day visit to Doha, engaged in discussions with Sheikh Faisal bin Thani bin Faisal Al Thani, Qatar's Minister of Commerce and Industry.
"We discussed ways to bolster India-Qatar bilateral trade and reaffirmed our commitment to enhance the multifaceted partnership, spanning trade, investment, and strategic cooperation, opening vast avenues for greater collaboration," stated Goyal in a post on X.
The minister is leading a business delegation to delve into potential investment opportunities between the nations. The visit coincides with both countries considering a free trade agreement.
Qatar is a vital trading partner within the Gulf Cooperation Council (GCC), contributing to bilateral trade exceeding USD 14.15 billion in the fiscal year 2024-25. The GCC comprises Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates (UAE).
India already holds a trade agreement with the UAE and is on the verge of a similar accord with Oman.
Currently, the trade relationship with Qatar is notably skewed toward energy imports, with petroleum crude and gas products comprising nearly 90 percent of India's total imports from the nation. India's exports to Qatar amounted to USD 1.68 billion, contrasting with imports that surged to USD 12.46 billion, resulting in a trade deficit of USD 10.78 billion for the last fiscal year.
The primary energy components imported by India from Qatar are liquefied natural gas, liquefied butanes, liquefied propane, petroleum crude, and other petroleum products. Other imports include fertilizers, organic chemicals, plastic raw materials, aluminum and aluminum products, dye intermediates, and inorganic chemicals.
India's exports, totaling USD 1.68 billion to Qatar, indicated mixed trends across various sectors, dominated by industrial products, food items, and machinery. In 2024-25, these exports included iron and steel products, rice, gold and precious metal jewelry, processed minerals, motor vehicles/cars, petroleum products, electrical machinery, electronics, buffalo meat, and sugar.
From April 2000 to June 2025, India received USD 1.53 billion in foreign direct investment from Qatar.
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