Qatar has sought a partnership from Indian businesses in key areas such as IT, health, infrastructure and tourism, in its bid to move from an economy based on oil to a knowledge-based one.

“We want Indian companies to work with us on vital projects in areas such as health, infrastructure, IT and tourism,” said Qatar’s Economy & Commerce Minister Sheikh Ahmed bin Jassim at the Qatar-India economic forum jointly organised by CII and the Qatar Chamber of Commerce & Industry.

The infrastructure sector in Qatar is already in the government’s focus with about $195 billion worth of major projects commissioned recently. With Qatar hosting FIFA World Cup in 2022, infrastructure development is expected to accelerate, the Minister said.

Jassim pointed out that Indian companies such as Larsen & Toubro and Voltas were executing major projects in Qatar and contributing to the Qatari economy, and more companies could benefit by investing in the country as it had a friendly and steady business environment.Although India’s imports from Qatar in 2014-15 at $16 billion was several times more than its exports worth $1 billion, it is not a cause for concern, according to Anil Wadhwa, Secretary (West), Ministry of External Affairs. “India and Qatar have complementary economies. Qatari oil and gas is being used to power the growth of the Indian economy,” he said.

The three key areas where Qatar could invest in India include railways, defence production and infrastructure development, Wadhwa said. With India developing industrial corridors in several parts of the country, Qatar could consider investing in some of these projects, he said. The development of LNG terminals also provides an opportunity for investment by Qatar.

6 pacts signed Meanwhile, India and Qatar on Wednesday signed six agreements to inject a fresh momentum in their bilateral ties. The pacts were signed after Emir of Qatar Tamim Bin Hamad Al Thani held extensive talks with Prime Minister Narendra Modi during which both the leaders discussed a range of issues, including enhancing cooperation in energy sector and boosting trade and investment.

“From the conversation and positive tone of the Emir we see that there is significant scope for moving ahead. He did mention that he trusts the economy of India and added that he trusts the Prime Minister’s vision for development of India. He felt that it is now time for Qatar to look seriously in terms of creating an institutional mechanism which can help in speeding up this process,” a spokesman of the Ministry of External Affairs said.

The spokesman added that the Emir will work out an institutional mechanism from his side which is able to quickly identify projects which are of interest to them.

(With inputs from PTI)

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