Union Minister of Commerce and Industry Piyush Goyal wrapped up a three-day visit to Qatar on October 7, 2025, marking a significant step forward in economic ties between the two nations as they work toward ambitious bilateral trade targets.
During his visit from October 5-7, Goyal paid a courtesy call on Qatar’s Prime Minister and Foreign Minister Sheikh Mohammed bin Abdulrahman Al Thani, conveying greetings from Prime Minister Narendra Modi. Both sides reaffirmed their commitment to advancing trade and investment cooperation under the strategic partnership established during the State Visit of Qatar’s Amir to India.
The highlight of the visit was the Joint Commission meeting on Economic and Commercial Cooperation held on October 6, which Goyal co-chaired with Qatar’s Minister of Commerce and Industry Sheikh Faisal bin Thani bin Faisal Al Thani. The two ministers reviewed all aspects of bilateral trade and investment relations and agreed to intensify efforts toward achieving targets set during the Amir’s visit to India, including doubling bilateral trade by 2030 and launching negotiations for a Free Trade Agreement.
Both ministers also addressed the inaugural meeting of the Joint Business Council, which is co-chaired by Qatar Chamber and the Federation of Indian Chambers of Commerce and Industry. The leaders encouraged businesses on both sides to leverage the strategic partnership and cultural connections between the two countries to further strengthen economic ties. Goyal emphasized that the robust nature of both economies offers greater synergies across various sectors for shared growth and prosperity.
On financial cooperation, Goyal met with Sheikh Bandar bin Mohammed bin Saoud Al Thani, Governor of the Qatar Central Bank and Chairman of the Qatar Investment Authority. Discussions focused on various sectors for investment opportunities in India, with both sides reiterating their commitment to Qatar’s target of investing ten billion dollars in India and the planned opening of a Qatar Investment Authority office in India.
Throughout his visit, Goyal held meetings with chief executives of top Qatari economic and commercial institutions, including Qatar Airways, Qatar Investment Authority, Qatar Free Zones Authority, Qatar National Bank, and Qatar Development Bank. He also interacted with several Qatari businessmen during the Joint Business Council meeting and at a luncheon hosted by the Qatari Businessmen Association.
Goyal met with businesses, professionals, and community members from India during his stay and attended the launch ceremony of India’s Unified Payments Interface system in Qatar, organized at a Lulu supermarket. He was accompanied by a large business delegation from the Federation of Indian Chambers of Commerce and Industry, Confederation of Indian Industry, and the Associated Chambers of Commerce and Industry of India. These delegates held separate meetings with officials from Qatar Free Zone Authority, Invest Qatar, and Qatar Science and Technology Park, exploring avenues for collaboration and joint ventures in manufacturing, technology, and innovation sectors.The visit is expected to pave the way for greater collaboration among businesses between India and Qatar and strengthen joint efforts toward deepening the economic partnership between the two countries.