FILE PHOTO: Finance Minister Nirmala Sitharaman discussed the Bilateral Investment Treaty, free trade agreement, UPI expansion and Qatar’s $10 billion investment commitment with Qatari ministers.
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BIJOY GHOSH
Finance Minister Nirmala Sitharaman on Tuesday met Qatari ministers of finance and foreign trade and discussed completing the Bilateral Investment Treaty and engagement for a free trade agreement.
On the sidelines of the annual meeting of the Asian Infrastructure and Investment Bank (AIIB), Qatar Finance Minister Ali bin Ahmed Al Kuwari and Sitharaman discussed expansion of the Indian UPI system in Qatar and sought finalisation of the Bilateral Investment Treaty (BIT).
“The leaders discussed expansion of Indian UPI payments across Qatar; implementation of USD 10 billion Qatari investment commitment in India; engagement with National Infrastructure and Investment Fund @NIIFIndia; and finalisation of the Bilateral Investment Treaty,” the Finance Ministry said on X.
They also discussed the Double Taxation Avoidance Agreement as a strengthened framework for trade, investment and tax certainty, the ministry added.
Trade and investment priorities
Sitharaman, while meeting Qatar Minister of State for Foreign Trade Ahmad bin Mohammed Al-Sayed conveyed that India attaches high importance to enhancing trade and investment with Qatar.
“The Union Finance Minister emphasised the importance of restoring normal trade between India and Qatar and other Gulf countries, including unimpeded maritime navigation and commerce through the Strait of Hormuz,” the Union Finance Ministry said on X.
They also discussed the implementation of the USD 10 billion Qatari investment commitment and establishment of a QIA office in India.
“They both expressed keen interest in completing the Bilateral Investment Treaty with Qatar, for which they decided on accelerated engagement, as well as the Free Trade Agreement (FTA) negotiations,” the ministry said.
Qatari business engagement
Separately, Sitharaman addressed the Qatari Businessmen Association (QBA) business roundtable.
The Indian side highlighted India’s strong structural growth momentum, with Real GDP growth accelerating to 7.8 per cent in the 1st quarter of FY26, Investment growing by 11.9 per cent, amid global uncertainty underscoring the resilience of the Indian economy, the finance ministry said on X.
The recent upgrade by Japan Credit Rating (JCR) of India’s long-term issuer rating from BBB+ to A- was also highlighted as a reflection of confidence in India’s ongoing structural reforms. India also recorded its highest-ever annual gross FDI inflow of USD 94.53 billion in FY26, the highest in the past 15 years.
During the interaction, the Union Finance Minister discussed emerging economic opportunities in both nations and encouraged Qatari businesses to actively explore trade and investment partnerships to further strengthen bilateral economic ties, the ministry added.
Published on September 29, 2026