Qatar-India Economic Alliance: A Growth Trajectory Under Free Trade Talks

Dr. R Seetharaman discusses the burgeoning economic partnership between Qatar and India, highlighting trade and investment growth, workforce contributions, and the potential implications of the GCC-India Free Trade Agreement. Projected trade volume is set to soar to USD 25 billion within a few years.

In a recent discussion, Dr. R Seetharaman, the former CEO of Doha Bank and President of SSDD, highlighted the burgeoning economic partnership between Qatar and India. He pointed out the significant expansion in trade, investment opportunities, and the promising prospects under the ongoing Free Trade Agreement (FTA) negotiations between the Gulf Cooperation Council (GCC) and India.

Dr. Seetharaman remarked on the dynamic economic relations shared by India and Qatar, stating, "It's a growing relationship." With bilateral trade topping USD 18.4 billion, driven by USD 16.8 billion in oil, gas, and petrochemical imports, the two nations are witnessing an economic upswing. He further noted India's export contribution of over $2 billion, particularly in plants, machinery, and apparel, and emphasized the importance of the Indian workforce exceeding 840,000 in Qatar.

Projected growth across sectors such as trade, investments, and financial services was underscored. Dr. Seetharaman remarked, "India is set for significant growth, boasting a GDP increase of 6.5 to 7 percent annually over the next two decades." He proposed that Qatar can benefit from investing in India's infrastructure projects, thanks to its stable economic environment and skilled workforce. This stability, alongside potential Gulf involvement, could significantly boost FTA negotiations and bilateral trade, which Dr. Seetharaman predicted could reach USD 25 billion soon.