Vice President Naidu launches ‘India-Qatar Start-Up bridge’ to linkup ecosystems of two economies

Doha, Jun 5 (PTI) Vice President M Venkaiah Naidu on Sunday launched the India-Qatar Start-UP bridge, a joint initiative that aims to link the start-up ecosystems of the two countries and help their economies mutually.

The joint initiative was launched as Naidu addressed the members of the business community at the India-Qatar Business Forum here.

The start-up initiative is likely to boost the business sectors mutually.

During the meeting, Vice President Naidu launched ‘India-Qatar Start Up bridge’ that aims to link the start-up ecosystems of the two countries, a tweet from his Secretariat said.

He highlighted the strength of India-Qatar ties and called for building an enabling environment and forging more collaborations for mutual benefit, it said.

The India-Qatar Business Forum was jointly organised by FICCI, CII and ASSOCHAM, along with Qatar Chamber of Commerce and Industry.

Leading businessmen from both India and Qatar participated in the Business Forum.

The Ministry of External Affairs said that it is hoped that the Forum will result in new networking opportunities for trade and investment between both sides. Qatar’s FDI in India is in excess of USD 450 million and there is great potential for increasing these investments.

The Invest India and Investment Promotion Agency of Qatar have reached an understanding on cooperation to promote two-way investments between both countries, the MEA said in a press release.

Bilateral trade crossed USD 15 billion in FY 2021-22. Qatar has also committed investments of over USD 2 billion in various Indian companies over the past two years.

Naidu’s visit to Qatar is taking place as both sides prepare to celebrate the 50th anniversary of the establishment of diplomatic relations. On Sunday, Naidu met Qatar’s Prime Minister and Interior Minister Sheikh Khalid bin Khalifa bin Abdulaziz Al Thani here and the two leaders reviewed the growing bilateral ties between the two countries in areas like trade, investment, economic and security cooperation.

Naidu reiterated the high importance attached by India to close and friendly relations with Qatar and the commitment to deepen multifaceted bilateral cooperation in trade, investment, energy, food security, defence, technology, culture, education, health, media and people to people contacts.