India, Qatar Launch Start-Up Bridge

Vice President of India M Venkaiah Naidu said that India has a very robust economic partnership with Qatar and it is getting enriched with each passing day, reports Asian Lite Newsdesk

Vice President of India M Venkaiah Naidu on Sunday launched the “India-Qatar Start-Up bridge” to link the start-up ecosystems of the two countries at the India-Qatar Business Forum in Doha, Qatar.

He also addressed the members of the business community at India-Qatar Business Forum and highlighted the strength of India-Qatar ties and called for building an enabling environment and forging more collaborations for mutual benefit.

He launched the “India-Qatar Start-Up bridge” to link the start-up ecosystems of the two countries at the India-Qatar Business Forum in Doha, Qatar.

In his address, Naidu said, “When I see India and Qatar, I see convergences and opportunities. Trade contacts between the Western Coast of India and the Gulf region have existed for a long time. The pearl trade; the movement of dhows between our coasts taking advantage of the monsoon ecosystem in the Indian ocean; the use of the Indian Rupee as a legal tender in Qatar till the 1960s, enabled the ease with which goods and people moved between the two countries.”

The Vice President said that these exchanges paved the way for a special relationship between our countries which has evolved over centuries through people to people and cultural exchanges.

“We have now a very robust India-Qatar economic partnership and it is getting enriched with each passing day,” he said.

He also said that bilateral trade between India and Qatar has seen steady progress.

“During 2021-22, bilateral trade crossed USD 15 billion. It is a new milestone. Currently, the trade is naturally dominated by energy. Our focus is now to expand and diversify the trade basket,” he added.

He further said that more than 100 businesses are registered with Qatar Financial Centre and in Qatar Free Zone too.

“We have also seen an increase in the number of registered Indian businesses in Qatar which has crossed 15,000. More than 100 businesses are registered with Qatar Financial Centre and in Qatar Free Zone too. This provides a strong foundation for realizing the potential in our bilateral trade and economic ties,” Naidu said.

The Vice President said Qatar Investment Authority has committed investments of over USD 2 billion in Indian companies in the last two years.

“We have witnessed a steady increase in Foreign Direct investment from Qatar to India in recent years. Qatar Investment Authority has committed investments of over USD 2 billion in Indian companies in the last two years. This augurs well for future growth,” he said.

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Earlier on Sunday the Vice President called on Sheikh Hamad bin Khalifa Al Thani, Father of Amir of Qatar and then he held delegation-level talks with Sheikh Khalid bin Abdulaziz Al Thani, the Prime Minister and Minister of Interior of Qatar.

Mentioning that Qatar is not just among the countries with the highest per capita income; but also the top gas supplier to the world, the Vice President said that he was deeply impressed with the strides being made by Qatar in its development journey.

During this visit, the Vice President is being accompanied by Dr Bharati Pravin Pawar, Minister of State for Health and Family Welfare, Sushil Kumar Modi, Member of Parliament, Vijay Pal Singh Tomar, Member of Parliament, P. Raveendranath, Member of Parliament and senior officials from the Vice President’s Secretariat and the Ministry of External Affairs. (ANI)

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