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The finance ministry said Sitharaman met her Qatari counterpart Ali bin Ahmed Al Kuwari on the sidelines of the Asian Infrastructure Investment Bank’s 2026 annual meeting. Discussions focused on expanding the Unified Payments Interface across Qatar, implementing the $10 billion Qatari investment pledge in India and increasing engagement with the National Investment and Infrastructure Fund. The two ministers also reviewed finalisation of a bilateral investment treaty and updates to the double taxation avoidance agreement to offer greater certainty for cross-border commerce.
In talks with Qatar’s Minister of State for Foreign Trade Ahmad bin Mohammed Al-Sayed, Sitharaman stressed the need for uninterrupted maritime trade and navigation through the Strait of Hormuz amid recent regional disruptions. The sides agreed to accelerate engagement on both the bilateral investment treaty and free trade agreement negotiations. According to the ministry, the Qatari side highlighted opportunities in Indian ports, airports, highways and power while noting prospects for Indian companies in food security, pharmaceuticals and education.
Sitharaman addressed a business roundtable hosted by the Qatari Businessmen Association where she outlined emerging sectors in the Indian economy. She encouraged greater trade and investment partnerships to build on the strategic relationship established in February 2025. The interaction identified technology, fintech, healthcare, renewable energy and logistics as priority areas for collaboration between companies from both countries.
Bilateral trade stood at around $14 billion in recent years with a shared target of lifting it to $30 billion by 2030, the finance ministry has previously indicated. United Nations COMTRADE data for 2025 placed India’s imports from Qatar at $12.87 billion, dominated by mineral fuels and fertilisers that supply a substantial portion of the country’s energy needs. Qatar accounted for nearly half of India’s liquefied natural gas imports at the time the strategic partnership was elevated.
India’s Unified Payments Interface became operational in Qatar in September 2025 through an arrangement with a local bank that supports QR-code transactions. A remittance service linking the platform to Indian bank accounts via postal outlets launched in August 2026. The finance ministry described further UPI adoption as a key element in deepening financial ties during the latest meetings.
The Qatari finance minister thanked the Indian community for its contribution to national development and expressed interest in expanded opportunities for trade and investment. Sitharaman concluded her three-day visit after additional bilateral discussions with officials from several other nations attending the AIIB gathering. The ministry framed the engagements as building on high-level exchanges that upgraded the overall bilateral relationship last year.
