New Delhi: India and Qatar are set to deliberate on strategies to enhance bilateral trade and investment opportunities, inlcluding in the energy sector, on Tuesday. According to an official statement issued on Monday, Commerce and Industry Minister Piyush Goyal will engage in discussions with his Qatari counterpart, Sheikh Faisal bin Thani bin Faisal Al Thani, to explore avenues for strengthening economic ties.
Both ministers are scheduled to participate in the Joint Business Forum meeting on February 18, as confirmed by the Ministry of Commerce and Industry. The event is being organized by the Confederation of Indian Industry (CII) in collaboration with the Department for Promotion of Industry and Internal Trade (DPIIT).
Serving as a key platform, the forum will bring together prominent business leaders, policymakers, and industry representatives to discuss investment prospects, technological advancements, and economic partnerships.
The high-profile Qatari delegation comprises leading enterprises from various sectors, including energy, infrastructure, finance, technology, food security, logistics, advanced manufacturing, and innovation. “These deliberations will facilitate Indian and Qatari businesses in exploring joint ventures, foreign direct investment (FDI), technology collaborations, and policy-driven initiatives,” the statement added.
Between April 2000 and September 2024, India attracted FDI inflows amounting to USD 1.5 billion from Qatar. Meanwhile, bilateral trade between the two nations saw a decline, dropping from USD 18.77 billion in 2022-23 to USD 14 billion in 2023-24.
According to a recent report released by the International Energy Agency (IEA), India's gas demand is slated to grow 60 percent through 2030. With most of its existing Liquefied Natural Gas (LNG) deals expiring by 2028, India has been scouting for more gas. At India Energy Week 2025, Indian Oil Corporation Limited (IOCL) and Abu Dhabi National Oil Company (ADNOC) signed a 14-year contract valued at over USD 7 billion to source up to 1.2 million metric tons per annum (MMTPA) of LNG, commencing in 2026.
Bharat Petroleum Corporation Limited (BPCL) and ADNOC signed a five-year LNG offtake agreement for 2.4 million metric tons (MMT), with an option to extend for an additional five years. TotalEnergies and Gujarat State Petroleum Corporation (GSPC) signed a 10-year deal to supply 400,000 metric tons of LNG annually, starting in 2026.
Since Qatar is one of the largest producers of gas with plans on the anvil to expand production further, a deal could be on the discussion table at the upcoming Joint Business Forum meeting on February 18.
