New Delhi, March 29: India has pitched for investments from Qatar in defence, railways, highways and other infrastructure projects as part of the "Make in India" programme.
Besides expressing its interest to invest in the country, Qatar has invited Indian companies to participate in the massive infrastructure projects for the FIFA World Cup to be hosted by the Gulf country in 2022.
Anil Wadhwa, secretary (west) in the external affairs ministry, said the reforms being undertaken by the Narendra Modi-government had thrown up several opportunities for investment by Qatar.
The three key areas are railways, defence production and infrastructure development, Wadhwa said at the Qatar India Economic Forum organized by the Confederation of Indian Industry.
India has pitched for investments in the ongoing government projects that can offer secure and higher returns.
The Qatar Investment Authority, which holds significant stakes in blue-chip corporations such as Harrods, Barclays and Sainsbury, is keen to strengthen economic ties keeping in view India's economic growth in the long term.
Wadhwa said the Gulf country could consider putting money in some of the industrial corridors that are being developed. The development of LNG terminals also provides a good opportunity.
India is also looking forward to invest in infrastructure projects in Qatar ahead of the FIFA World Cup. Around $195 billion worth of projects have already been commissioned, Sheikh Ahmed bin Jassim bin Mohammed Al Thani, minister of economy & commerce in Qatar, said.
He pointed out that Indian companies could play a major role in Qatar's development in various sectors as the country was growing at 10 per cent annually, making it one of the fastest-growing economies.
He said companies such as Larsen & Toubro and Voltas were already executing major projects in the Gulf nation.
According to him, Qatar has several advantages that make it an ideal destination for Indian investment. These include a strategic location, 100 per cent FDI in most sectors, 100 per cent repatriation of capital, a transparent environment based on English Common Law, no taxes, duty-free import of goods and services and three special economic zones.
India and Qatar has signed an MoU in information and communication technology that will provide enhanced business opportunities for domestic IT industry in Qatar.
"India and Qatar's economic ties now extend well beyond oil and gas," Al Thani said.
