India fourth largest FDI source for Qatar

“A total of 21 Indian companies have invested in Qatar between January 2010 to May 2016. Of the total investments, $225 million were invested in Doha alone,” Qatar Financial Centre (QFC) Chief Strategy and Business D e v e l o p m e n t Officer Kamal Nagi has said. India currently ranks fourth in terms of FDI into the Arab kingdom. QFC, a fully onshore business and financial centre under the government of Qatar, has been organising multi-city roadshow to boost investments in the Gulf state. One such show took place in Mumbai.  Diversified Indian companies such as infrastructure and banking have been operating in Qatar for over several years. The region’s business-friendly policies and simplified tax and regulatory structure have contributed to their growth. Some of the largest Indian companies invested in Qatar include LIC, TCS, L&T, ICICI Bank, SBI and HDFC Bank. Akshay Randeva, Strategy and Business Intelligence Director, QFC said Qatar had already invested in creating a world-class infrastructure. With the FIFA World Cup coming up in 2022, QFC is upbeat on achieving the kingdom’s 2030 Vision for sustainable growth possible. “From India, we are observing that non-hydrocarbon exports are growing at a healthy rate of 12 per cent, which is a positive sign with a large scope for growth. These investments are in diverse areas such as IT and professional services,” Randeva added.