PHOTO
Qatari money - riyal a business background. Image used for illustrative purpose. Getty Images
The State of Qatar has pledged to invest $10 billion in India as part of efforts to boost relations between the two countries.
The investment commitment was confirmed on the occasion of the two-day state visit of Qatar’s Emir, Sheikh Tamim bin Hamad Al-Thani to the Asian state.
The Qatari leader, which was accompanied by a delegation of ministers, officials and business leaders, had bilateral talks with India’s Prime Minister Narendra Modi at Hyderabad House on Tuesday.
Both parties agreed to expand cooperation in various areas, including investment, trade, energy, technology, innovation and sustainability, among others.
Qatar also confirmed its decision to set up an office of the Gulf state’s sovereign wealth fund, the Qatar Investment Authority (QIA), in India.
Both parties pledged to boost bilateral energy cooperation, including through promotion of trade and investments in energy infrastructure.
Several documents were likewise signed and exchanged during the visit, which include the Revised Agreement for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with Respect to Taxes on Income and its Protocol.
Both sides also agreed to expedite talks on the India-Qatar Bilateral Investment Treaty.
(Writing by Cleofe Maceda; editing by Seban Scaria)
