India, Qatar Advance $10B Investment and UPI Expansion Plans

India and Qatar discuss implementing Qatar’s $10 billion investment commitment, expanding UPI payments across Qatar and finalising the Bilateral Investment Treaty to strengthen trade, investment and financial cooperation.

India and Qatar discuss measures to strengthen financial and economic cooperation, including the implementation of Qatar’s $10 billion investment commitment in India, expansion of India’s Unified Payments Interface (UPI) across Qatar and finalisation of the proposed Bilateral Investment Treaty (BIT). The discussions take place between Union Finance Minister Nirmala Sitharaman and Qatar’s Minister of Finance Ali bin Ahmed Al Kuwari in Doha.

The meeting is held on the sidelines of the 11th Annual Meeting of the Asian Infrastructure Investment Bank (AIIB), where Sitharaman participates as India’s Governor to the multilateral development bank. The two finance ministers review opportunities to deepen trade, investment and financial cooperation between the two countries.

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A key focus of the discussions is the implementation of Qatar’s $10 billion investment commitment in India. The two sides also discuss greater engagement with India’s National Investment and Infrastructure Fund (NIIF), which provides a platform for international investors to participate in Indian infrastructure projects.

The ministers also discuss expanding the use of UPI payments across Qatar. UPI has been operational in Qatar since September 2025 through a partnership between NPCI International Payments and Qatar National Bank, enabling QR-based payments at participating merchants. The latest discussions focus on expanding its reach across the country.

The proposed Bilateral Investment Treaty is another key subject of the meeting. The agreement is intended to establish a framework for the treatment and protection of investments between India and Qatar. Both countries have been working toward finalising the treaty as part of efforts to strengthen investment relations.

The ministers also discuss the Double Taxation Avoidance Agreement (DTAA) as a framework for improving tax certainty and supporting trade and investment flows between the two countries. India and Qatar had signed a revised DTAA in February 2025.

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The meeting comes after India and Qatar elevated their bilateral relationship to a strategic partnership in February 2025, alongside Qatar’s investment commitment. The latest discussions seek to build on that framework through stronger financial and investment linkages.

Qatar’s Finance Minister also expresses interest in expanding trade, finance and investment opportunities with India. The two sides continue to explore areas where businesses and investors can participate in bilateral economic cooperation.