India and Qatar Aim to Double Bilateral Trade by 2030: Piyush Goyal

Doha, October 7, 2025 Union Minister of Commerce and Industry Piyush Goyal, during his two-day official visit to Qatar on October 6 and 7, said that India and Qatar have the potential to double their bilateral trade by 2030. The visit focused on deepening economic and commercial cooperation between the two nations through a series of high-level meetings with Qatari ministers, officials, and business leaders. At the beginning of his visit, Goyal paid tribute to Mahatma Gandhi at the Embassy of India in Doha and participated in the “Ek Ped Maa Ke Naam” initiative by planting a sapling. This act symbolized India’s strong commitment to environmental protection and sustainability. The Minister co-chaired the India–Qatar Joint Commission on Economic and Commercial Cooperation with Sheikh Faisal bin Thani bin Faisal Al Thani, Qatar’s Minister of Commerce and Industry. The meeting reviewed the current trade relationship and discussed ways to strengthen cooperation across several key areas, including finance, agriculture, healthcare, automobiles, pharmaceuticals, processed food, textiles, gems and jewellery, IT, renewable energy, and high-tech industries. Goyal highlighted that even amid global economic challenges and supply chain disruptions, India continues to maintain strong macroeconomic stability. He said India’s rapidly growing start-up ecosystem and investor-friendly policies make it an attractive destination for global businesses. The Minister encouraged both Indian and Qatari companies to explore more trade and investment opportunities and to build stronger business partnerships. Currently, India–Qatar bilateral trade stands at around USD 14 billion. Both countries agreed that there is significant untapped potential to double this figure by 2030. They reaffirmed their commitment to working toward a Comprehensive Economic Partnership Agreement (CEPA) to boost trade and investment further. The discussions also recognized Qatar’s long-term LNG supply agreement with India, which ensures 7.5 million tonnes per year starting from 2028. At the same time, the need to increase India’s exports to Qatar was also emphasized. During his visit, Goyal addressed the India–Qatar Joint Business Council meeting, attended by representatives from major industry bodies such as FICCI, CII, ASSOCHAM, and the Qatar Chamber. He praised the success of this first in-person council meeting, which played a key role in building stronger business connections between the two countries. Goyal also met with several top Qatari corporate leaders to discuss investment flows, technology partnerships, and joint ventures. Another highlight of his visit was the launch of the Unified Payments Interface (UPI) at Lulu Mall, The Pearl Island. This launch marked a major step in India-Qatar digital collaboration, making it easier for both the Indian community and local consumers to carry out seamless digital transactions. While addressing the Indian diaspora in Qatar, Goyal expressed deep appreciation for their contribution in strengthening ties between the two nations. He spoke about India’s growing economy, its position as one of the world’s fastest-growing major economies, and its vision to become a developed nation, or Viksit Bharat, by 2047. He encouraged the Indian community in Qatar to continue serving as a strong bridge between both countries and to actively contribute to India’s journey of progress through innovation, inclusivity, and global cooperation. India and Qatar Set Ambitious Trade Goal Union Minister Piyush Goyal, during his visit to Qatar, announced that India and Qatar aim to double their bilateral trade by 2030. His meetings with Qatari leaders focused on boosting cooperation in sectors like energy, IT, healthcare, and finance. He also launched UPI at Lulu Mall, marking a milestone in digital collaboration. Goyal highlighted India’s strong economy, vibrant start-up ecosystem, and vision of becoming a developed nation by 2047. Addressing the Indian community, he praised their vital role in strengthening the bridge between both nations and driving India’s global growth journey.