Qatar-Naak Achievement: India’s Exports To Gulf Nation Jump 87 Per Cent In 2018

A record jump of 87 per cent has been recorded in Indian exports to Qatar in one year, approaching nearly about $1.5 billion, reported Gulf Times.

Speaking on the sidelines of a business meeting at Qatari Chamber between the companies of Qatar and a trade delegation from India, Indian envoy, P Kumaran, said that Indian exports to Qatar totalled nearly $800 million in the previous year.

The Indian trade delegation led by Triviyan K Kalra, CEO of K-flex India, met Qatar Chamber’s first vice-chairman Mohamed bin Towar al-Kuwari along with other chamber officials and member companies.

“Our analysis showed that the main increase was in the area of food and food products, iron and steel, aluminium, and transport machines and cars from Suzuki and Tata Motors,” Kumaran said.

Welcoming Qatar to invest in various sectors in India, Kumaran said that India required $2 trillion in the next 12 years for its various development projects in the field of infrastructure.

“We welcome investments from everyone. Being a big investor and an active investor abroad, we also welcome Qatari investments in the Indian sector. Given our growth rate of 7 per cent to 8 per cent – the fastest growing major economy in the world – I think the opportunity for good returns above most other economies is high,” Kumaran said.

According to the vice-chairman of Qatar Chamber, al-Kuwari, trade between Qatar and India stood at more than $10 billion last year, making India the third largest exporter of products to Qatar.