India, Qatar sign seven agreements

doha - MoUs cover sectors such as infrastructure investments, skills, health and tourism

India and Qatar on Sunday signed seven agreements, including on investment and tourism promotion, following delegation level talks headed by Prime Minister Narendra Modi and Qatar Emir Tamim bin Hamad Al Thani.

"From investments to skills, health to tourism, leaders witness signing of agreements to strengthen India-Qatar ties," External Affairs Ministry spokesperson Vikas Swarup tweeted.

According to one memorandum of understanding (MoU), Qatar will invest in India's National Investment and Infrastructure Fund (NIIF). The government had set up the Rs400 billion NIIF last year for enhancing infrastructure financing in India.

Another MoU was signed between India's Ministry of Skill Development and Entrepreneurship and Qatar's National Qualifications Authority/Supreme Educational Council on cooperation in skill development and recognition of qualifications.

A third MoU calls for cooperation in tourism. Another MoU was signed on cooperation in the field of health.

A fifth MoU was signed between Finance Intelligence Unit-India and the Qatar Financial Information Unit. An agreement was signed on cooperation and mutual assistance in customs matters. The two countries also signed a first executive programme for MoU in the field of youth and sports.

India and Qatar are expected to further cooperation in the hydrocarbons sector, with the latter having the world's third largest gas reserves and being India's largest supplier of liquefied natural gas (LNG).

Qatar has gas reserves exceeding 900 trillion cubic feet, or 14 per cent of global reserves. The Gulf Cooperation Council member accounted for 65 per cent of India's total LNG imports last fiscal.

India is hoping to tap the Gulf nation's sovereign wealth fund, estimated at $300 billion, for infrastructure projects.

Modi praised the role of the Emir of Qatar in promoting business ties with India. Modi also invited Qatari industry leaders to invest in India.

"India is a land of opportunity. I have come to personally invite you to take advantage of this opportunity," Modi said, according to a tweet by India's Ministry of External Affairs spokesperson Vikas Swarup.

"Business First. For first engagement of the day, PM attends roundtable meeting with Qatari Business Leaders," the spokesperson tweeted. "Qatar's Minister of Trade and Economy welcomes PM @narendramodi, seeks more intensive eco engagement with India," it added.

This is the second prime ministerial visit from India to Qatar in eight years after Manmohan Singh's visit in 2008.

"It [Qatar] can also be a large economic partner as it has a large sovereign wealth fund," Foreign Secretary S. Jaishankar said on Friday in a pre-departure media briefing.

The trade between India and Qatar stands at $10 billion.

Modi addressed Indian workers at a medical camp in Doha on Saturday night. There are 6,30,000 Indians living in Qatar - comprising the largest expatriate community in that country.

Modi, who arrived here from Afghanistan, will visit Switzerland, the US and Mexico. - IANS

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