PM Modi urges Qatari firms to invest in India

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Prime Minister Narendra Modi has urged business firms from Qatar to come and invest in India under the ‘Make in India’ initiative.

Qatar’s business delegations had some questions related to rules and clearances, to which Modi said his government had changed rules and norms to enable easier Foreign Direct Investment (FDI) in a number of sectors, sources said. He specifically mentioned sectors like railways, electronics, defence, manufacturing and food processing. He also spoke about the big opportunity existing in the tourism sector.

The Prime Minister has been very keen to get FDI inflows in the country like never before and make India a manufacturing driven nation. Modi told the Qatari businessmen that his government will continue to work for easing the norms and rules further to make it more easier to do business in India.

Addressing the meeting with top Qatari business leaders, the Prime Minister said, “there is a vast potential for Qatar investment authority to increase its investment in India, keeping in view India’s huge investment needs and investment-friendly policies.”

India is the third largest export destination for Qatar after Japan and South Korea, with LNG being the major item of trade. India is also a major buyer of ethylene, propylene, ammonia, urea and polyethylene from Qatar.

By Atanu Kumar Das