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Informist, Tuesday, Sept. 29, 2026

 

--India, Qatar discuss cross-border UPI pay, implementing $10 bln invest tie

 

NEW DELHI – Finance Minister Nirmala Sitharaman met her Qatari counterpart, Ali bin Ahmed Al Kuwari, on Tuesday and discussed expanding payments through India's Unified Payments Interface across Qatar, as well as implementing Qatar's $10 billion investment commitment in India. 

 

The two leaders also discussed Qatar's engagement with the National Infrastructure and Investment Fund, India's sovereign-anchored alternative asset manager that channelises global and domestic capital into infrastructure and high-growth sectors. They also deliberated on steps to finalise a bilateral investment treaty, the finance ministry said in a post on X. 

 

The two sides also discussed the Double Taxation Avoidance Agreement as a strengthened framework for trade, investment and tax certainty, the post said.  Both the leaders met on the sidelines of the annual meeting of the Asian Infrastructure Investment Bank in Doha. Sitharaman recalled India's recent engagement with Qatar's leadership, which elevated India-Qatar bilateral relations to a "strategic partnership."

 

"Ali bin Ahmed Al Kuwari thanked the Indian community for being part of the success story of Qatar," the ministry said. Qatar Finance Minister "looked forward to bigger opportunities for strengthening trade, finance and investment relations between the two countries," it added. 

 

India and Qatar have been discussing a trade treaty. After the United Arab Emirates and Oman, it will be the third Gulf Cooperation Council country to sign a trade deal with India. Both countries have set a target to double the bilateral trade by 2030. In 2024-25 (Apr-Mar), the bilateral trade amounted to $14.14 billion, comprising Indian exports of goods worth $1.68 billion and imports of $12.46 billion from Qatar.  End 

 

US$1 = INR 95.98

 

Reported by Radhika Tiwari

Edited by Saji George Titus

 

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