India, Qatar to focus on sustainable partnership: Piyush Goyal

India and Qatar have decided to enhance bilateral cooperation that is consistent with sustainability, technology advancement, entrepreneurship and energy security.

Commerce and industry minister Piyush Goyal stated this at the inaugural session of the India-Qatar Business Forum in New Delhi on Tuesday.

The meeting that coincided the official visit of Qatari Emir, Faisal bin Thani bin Faisal Al Thani, saw the signing of memoranda of understanding (MoU) between Qatari Businessmen Association (QBA) and the Confederation of Indian Industry (CII) and between Invest Qatar and Invest India forums.

Goyal said while the partnership between the two countries rests on the foundation of trust, trade and tradition, the terms of trade are undergoing a sea change. The focus of global trade is veering away from energy to emerging technologies like artificial intelligence, Internet of Things (IOT), quantum computing, semiconductors etc.

Also, he noted that the entire world is going through a major shift amidst geopolitical tensions, climate change, cybersecurity threats and increased focus on localisation.

He said India and Qatar should utilise their complementarities for transition to the new world order in terms of trade and investment.

The minister also announced the elevation of the Joint Working Group on trade and commerce to the ministerial level.

Goyal urged business leaders of the two countries to work together with confidence as India is focused on reforms and ease of doing business. 

Goyal also invited companies from Qatar to be part of India’s journey of growth through investments across manufacturing, renewable energy, smart cities and infrastructure. 

He called for combining Qatar Vision 2030 and Viksit Bharat 2047 to define a much bigger and brighter future for the people of the two countries.