Qatar to pump big investments in Indian infrastructure

During Prime Minister Narendra Modi's visit to Qatar an MoU was signed between Qatar Investment Authority and the Indian external affairs ministry for investment in the National Investment and Infrastructure Fund between the two countries that would facilitate foreign investment from the gas-rich Gulf state said a report in the Hindu. Secretary (Economic Relations) Amar Sinha said the MoU involves establishing a framework for promoting Qatari investment in India including in asset reconstruction in public sector undertakings whose assets are in distress and getting investment into them. Cooperation and investment in areas of skill development and education, health, tourism and sports between the two countries were the other agreements signed by Indian and Qatari officials in the presence of Modi and Sheikh Tamim.

 Talks were also held between Modi and the Emir of Qatar Sheikh Tamim bin Hamad Al-Thani and India and Qatar have decided to work together to combat global terror financing. “The two leaders highlighted the need to isolate the sponsors and supporters of terrorism and agreed that urgent action against all such entities, which support terrorism and use it as an instrument of policy, must be taken,” a joint statement issued after the talks said. The two sides also underlined the need to “disrupt terrorist movements, stopping all sources for financing of terrorism and countering terrorist propaganda through Internet.”

An agreement was also signed between on cooperation and mutual assistance in custom matters besides an MoU on cooperation in tourism. The MoU on customs matters included resolving the issues of under-invoicing and over-invoicing as well as money laundering issues, Mr Sinha said. Among the sectors that were being viewed, include Railways, agro-processing, solar energy defence and general manufacturing, he said.