Doha: Nearly 30 companies from India are participating in Project Qatar 2013, the largest number yet, under India’s national level trade and industry body of Associated Chambers of Commerce and Industry of India (Assocham).
“Indian companies at earlier exhibitions came individually, but the embassy had highly recommended an increased participation in Project Qatar from India because we consider the promotion of business from both sides as among our foremost priorities,” Sanjiv Arora, Indian ambassador, said yesterday.
Among the 30 companies, some are already operating in Qatar. Trade between India and Qatar was an estimated $13.70bn during 2011-2012. Arora also said that India greatly appreciates Qatar’s contribution to India’s energy requirements which are huge and growing. Besides the import of LNG from Qatar, which is currently at 7.5 million tons per anum, trade in non-hydro carbon sectors is also showing positive trends, the ambassador said.
Earlier, a joint venture worth $100m was agreed upon between India’s KLG Organic and Qatar Industrial Manufacturing Company (QIMC) in the Mesaid Industrial City. The 40 percent share of the project is held by the Indian company while 60 percent lies with QMIC.
Another agreement between Qatar Steel and Al Mana Group and the Goa Infra-logistics will see a total investment of $200m in two-phases. Thirty-five percent of this project is held by Qatar Steel, 33 percent by Al Mana Group and 32 by Goa Infra-logistics.
“There is also an enhanced interest on part of the business entities in Qatar to invest in India. We welcome Qatar’s investment in India. Our investment requirements are huge. In the infra-structural sector alone, India needs an investment of $1 trillion in the next five years or so,” the envoy said.
He also said that the strategic partnership between Qatar Foundation Endowment and the Bharti Airtel Ltd was a significant development.
The Peninsula
