Vice President M Venkaiah Naidu unveiled the India-Qatar Start-UP Bridge on Sunday, a cooperative project aimed at connecting the two nations’ start-up ecosystems and boosting their economies. M Venkaiah Naidu announced the collaborative project while speaking to business sector members during the India-Qatar Business Forum in Doha.
The start-up strategy is expected to benefit both industry sectors. He emphasised the strength of India-Qatar connections and urged the creation of an enabling environment and greater cooperation for mutual benefit.
The Federation of Indian Chambers of Commerce and Industry (FICCI), the Confederation of Indian Industry (CII), and the Associated Chambers of Commerce and Industry (ASSOCHAM), in collaboration with the Qatar Chamber of Commerce and Industry, hosted the India-Qatar Business Forum.
The business event drew prominent businesspeople from both India and Qatar. According to the Ministry of External Affairs, the Forum is expected to result in new networking possibilities for commerce and investment between the two countries. Qatar’s FDI in India exceeds USD 450 million, and there is significant room to grow these investments.
The MEA stated in a news statement that Invest India and Qatar’s Investment Promotion Agency have established an agreement on collaboration to boost two-way investments between the two nations. In the fiscal years 2021-22, bilateral trade exceeded USD 15 billion. Over the last two years, Qatar has contributed more than USD 2 billion to various Indian enterprises.
M Venkaiah Naidu’s visit to Qatar comes as the two countries prepare to commemorate the 50th anniversary of diplomatic ties. Naidu met with Qatar’s Prime Minister and Interior Minister Sheikh Khalid bin Khalifa bin Abdulaziz Al Thani on Sunday, and the two leaders discussed the two countries’ strengthening bilateral connections in sectors like trade, investment, economic cooperation, and security collaboration.