Overview

• Commerce ministers discussed broad contours of the Terms of Reference and agreed to launch formal negotiations shortly, with a possible conclusion by mid or third quarter of 2026.
• Both sides set an ambition to double bilateral trade to about $30 billion by 2030, up from $14.15 billion in FY25, where energy makes up nearly 90% of India’s imports from Qatar.
• The first in-person India–Qatar Joint Business Council convened in Doha, mapping cooperation in sectors such as agriculture, renewables, data centres, artificial intelligence, tourism, pharmaceuticals and cosmetics.
• Piyush Goyal said Qatar has already invested $4–5 billion in India with another $1–1.5 billion in the pipeline toward a previously signalled $10 billion commitment.
• Practical enablers were rolled out, including the launch of India’s UPI for retail payments in Qatar and Qatar Development Bank’s stated willingness to provide financing guarantees for joint investments and third-country projects.