Bilateral trade between India and Qatar crossed $ 16 billion during the last financial year, most of it by way of LNG imports from Qatar, said PS Sasi Kumar, deputy head of mission at the Indian embassy, in Doha, yesterday in Qatar Chamber of Commerce & Industry.
“India imports 7.5 million metric tonnes of LNG from Qatar annually. Indian exports to Qatar were worth $ 805.95 million dollars in 2011 – 2012. There is a need to take meaningful measures by both sides to enhance India’s exports to Qatar and to reduce the trade imbalance,” Kumar said at a meeting of a high – level business delegation of the Federation of Indian Chambers of Commerce and Industry (FICCI) with their Qatari counterparts at the Qatar Chamber headquarters.
The 20 – member FICCI delegation was led by Hiten Bhuta, President and CEO of CGS Infotech. The meeting was also attended by senior officials of the Indian Embassy in Qatar and a number of Qatari businessmen.
Kumar said “This visit to Qatar comes in the framework of growing economic and commercial cooperation between Qatar and India. This is the third consecutive year that FICCI has sent a delegation to Qatar.”
“We are keen to receive Qatari’s investment in India in mutually identified sectors. India needs an investment of nearly one trillion dollars in infrastructure sectors alone in the next five years. We need to work closely with our Qatari counterparts to increase their investments in India in these sectors,” Kumar said.
He also said that a trade Qatari team is likely to visit India shortly.
Remy Rowhany, Qatar Chamber CEO, said “Members of the FICCI delegation have come with innovative products and ideas. Qatar needs such innovative technologies.”
[mappress] LNG World News Staff, October 28, 2013; Image: Qatar Chamber