India and Qatar Aim to Enhance Trade Relations Amid Supply Chain Challenges
India, Qatar discuss ways to boost trade, strengthen supply chains
Business Standard
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India and Qatar have engaged in discussions to enhance bilateral trade and strengthen supply chain resilience disrupted by regional conflicts. With current trade at $14 billion, both nations aim to double this figure by 2030 while negotiating a Comprehensive Economic Partnership Agreement.
- 01India and Qatar's bilateral trade reached $14 billion in 2024-25.
- 02Both countries aim to double trade by 2030.
- 03Discussions included negotiating a Comprehensive Economic Partnership Agreement (CEPA).
- 04The West Asia crisis has disrupted supply chains, impacting trade logistics.
- 05India's overall trade with Gulf Cooperation Council (GCC) members was $178 billion in 2024-25.
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India and Qatar held a meeting on Thursday to discuss enhancing bilateral trade and improving supply chain resilience, which has been affected by the ongoing crisis in West Asia. The discussions involved India's Commerce and Industry Minister Piyush Goyal and Qatari Minister of State for Foreign Trade Affairs Ahmed bin Mohammed Al Sayed. Goyal emphasized the importance of deepening the strategic partnership between the two nations. Currently, bilateral trade stands at $14 billion for the fiscal year 2024-25, with both countries targeting to double this figure by 2030. They are also exploring a Comprehensive Economic Partnership Agreement (CEPA) to facilitate trade. The recent conflict involving the US and Israel's actions against Iran has severely disrupted cargo movements in international waters, complicating trade logistics for exporters aiming to ship goods to the Gulf region. India's total trade with Gulf Cooperation Council (GCC) countries reached $178 billion in 2024-25, highlighting the significance of these discussions for regional trade dynamics.
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Strengthening trade relations with Qatar could lead to increased market opportunities for Indian exporters and enhance supply chain stability amidst regional conflicts.
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