Modi in Doha: India, Qatar sign 7 key agreements

The Dollar Business Bureau

India and Qatar on Sunday inked seven key agreements, including one to attract Qatar’s institutional investors in India’s infrastructure sector and on sharing data on terrorism-financing and money laundering-related crimes.

The other bilateral MoUs that the two nations agreed upon were cooperation and investment in skill development and education, customs matters, health, tourism and sports.

In addition to the listed agreements, the Indian Prime Minister Narendra Modi identified India’s several sectors including agro-processing, infrastructure, railways and solar energy as potential areas for Qatari investment.

Modi, who is currently on a five-nation tour to Afghanistan, Qatar, Switzerland and Mexico, met the Emir of Qatar, His Highness Sheikh Tamim bin Hamad Al Thani on his second leg in Doha, where he engaged in bilateral discussions to strengthen Indo-Qatar relationship.

India’s External Affairs Ministry and Qatar Investment Authority signed an MoU to invest in National Investment and Infrastructure Fund (NIIF) to facilitate foreign investment from the Gulf nation.

The MoU between the Qatar Financial Information Unit (QFIU) and the Finance Intelligence Unit - India (FIU-IND) was aimed at tracking incoming money and investment from Qatar to India. The official announcement said this agreement would facilitate intelligence exchange on money laundering, terrorism-funding and related offences.

The agreement on custom administration envisaged to promote cooperation and mutual assistance on custom-related matters through exchange of intelligence and information.

“Sheikh Tamim Bin Hamad Al Thani & I had wide ranging talks on how India & Qatar can further expand bilateral ties,” Modi had said in a tweet.

“Crucial agreements were signed today, which will give new strength to India-Qatar ties,” he said in a series of tweets.

India has, of late, given special consideration to its bilateral relations with Qatar, as the energy-hungry economy is looking to tap this West Asian country’s vast gas reservoir. Earlier, Qatar had cut the price of gas it supplies to India by about half. It had removed a floor and cap in its pricing formula, but introduced a small fixed component to safeguard its interest.