India, Qatar aims to double bilateral trade by 2030: Piyush Goyal

India and Qatar intend to double their bilateral trade in the next five years, said Trade Minister Piyush Goyal, at a time when New -Delhi faces steep US rates. Trade between the two countries amounted to $ 14.15 billion in FY25. Earlier in the day, Goyal was co-chair of the India Cathar Joint Commission for Economic and Commercial Cooperation with its Qatari counterpart Sheikh Faisal bin Thani bin Faisal Al Thani. India is expanding its export basket after US rates have cast a cloud over $ 86.5 billion with the largest economy in the world. The two leaders have reviewed the total trade and investment ratio and discussed measures to address existing trade barriers and improve cooperation in emerging sectors, including finance, agriculture, healthcare, technology and renewable energy. Both parties have confirmed their shared intention to pursue an ambitious India -Catar -encompassing Economic Partnership Agreement (CEPA) to further deepen economic involvement, the Minister of Trade said in a statement. Goyal, who was attended by representatives of the local industry and the Qatar Chamber at the meeting of the India -Qatar Causier (JBC), has highlighted the resilience of India amid global economic conditions. The minister further emphasized India’s robust macroeconomic fundamentals, developing the ecosystem and a conducive business environment, and calling on companies from both countries to investigate new partnerships. Goyal said the two economies have significant unused trading potential. He has identified promising sectors for expansion, including electronics, cars, pharmaceuticals, processed foods, textiles, jewelery and jewelry, IT, high-tech manufacturing and solar energy. He also praised the first JBC meeting for the JBC meeting for promoting direct involvement between businesses. Trade deficit India has a $ 10.78 billion trading deficit, which is largely driven by petroleum imports, which accounts for 89% of its total imports. Both ministers recognized the important role of Qatar as a long-term energy partner for India, with the upcoming LNG offer agreement of 7.5 million tonnes per year from 2028 forming a cornerstone of collaboration. Goyal emphasizes the need to diversify the trade by improving Indian exports to Qatar, complementing the energy partnership with the growth in value-adding sectors. According to the ministry’s statement, Goyal, on the part of the joint commission, held a series of meetings with senior Qatari and business leaders, and the ways are investigating greater investment flow, technological partnerships and joint ventures between businesses from both countries. Goyal also participated in the launch of the Unified Payments Interface (UPI) in Lulu Mall, the Pearl Island, a milestone in India’s digital collaboration with Qatar, which facilitates seamless digital payments for the Indian Diaspora and local consumers. Earlier in the day, Goyal paid tribute to Mahatma Gandhi in the Embassy of India in Doha and planted a tree under the ‘I Ped Maae Name’ initiative, which reflects the commitment to sustainability and stewardship of India. Earlier, in February 2025, the Amir of Qatar, Sheikh Tamim Bin Hamad Al Thani, was in India during a state visit. During the visit, the two countries increased their joint trade group for trade and trade to a joint commission at ministerial level to conduct a more structured dialogue on economic matters.