: Vice President M Venkaiah Naidu on Sunday launched the “India-Qatar Start-Up bridge” to link the start-up ecosystems of the two countries at the India-Qatar Business Forum in Doha, Qatar.
He also addressed the members of the business community at India-Qatar Business Forum and highlighted the strength of India-Qatar ties and called for building an enabling environment and forging more collaborations for mutual benefit.
He launched the “India-Qatar Start-Up bridge” to link the start-up ecosystems of the two countries at the India-Qatar Business Forum in Doha, Qatar.
In his address, Naidu said, “When I see India and Qatar, I see convergences and opportunities. Trade contacts between the Western Coast of India and the Gulf region have existed for a long time. The pearl trade; the movement of dhows
between our coasts taking advantage of the monsoon ecosystem in the Indian ocean;
the use of the Indian Rupee as a legal tender in Qatar till the 1960s, enabled theease with which goods and people moved between the two countries.”
The Vice President said that these exchanges paved the way for a special relationship between our countries which has evolved over centuries through people to people and cultural exchanges.
“We have now a very robust India-Qatar economic partnership and it is getting enriched with each passing day,” he said.
He also said that bilateral trade between India and Qatar has seen steady progress
During 2021-22, bilateral trade crossed USD 15 billion. It is a new milestone. Currently, the trade is naturally dominated by energy. Our focus is now to expand and diversify the trade basket,” he added.
He further said that more than 100 businesses are registered with Qatar Financial Centre and in Qatar Free Zone too.
“We have also seen an increase in the number of registered Indian businesses in Qatar which has crossed 15,000. More than 100 businesses are registered with Qatar Financial Centre and in Qatar Free Zone too. This provides a strong foundation for realizing the potential in our bilateral trade and economic ties,” Naidu said.
The Vice President said Qatar Investment Authority has committed investments of over USD 2 billion in Indian companies in the last two years.
