India and Qatar will eliminate double taxation; agreement reached in Emir-Modi talks; $28 billion trade goal set

NEW DELHI: India and Qatar have decided to eliminate double taxation to increase investment and prevent fiscal evasion. This will benefit the Indian diaspora in Qatar. Trade will be doubled in five years. The target is $28 billion in trade, up from $14 billion at present. The announcement came after talks between Qatari Emir Sheikh Tamim bin Hamad Al Thani, who is on a two-day visit to India, and Prime Minister Narendra Modi.

Qatar's Prime Minister and Minister of Foreign Affairs, His Excellency Sheikh Mohammed Bin Abdulrahman Al Thani, and Finance Minister Nirmala Sitharaman exchanged agreements in the presence of Prime Minister Modi and the Qatari Emir at Hyderabad House in New Delhi.

India-Qatar relations will be developed into a strategic partnership focused on trade, energy, investment, innovation, technology, food security and culture. Modi and the Emir also shared views on regional and global issues of mutual interest. The Emir's visit to India is at the invitation of Modi, who visited Qatar in February 2024. The Emir had visited India in 2015 also.

The Emir was given a guard of honour at the Rashtrapati Bhavan yesterday morning. President Draupadi Murmu and Prime Minister Narendra Modi welcomed the Emir. Ministers, senior officials and business leaders are also with the Emir.

One tax will be reduced for expatriates

Currently, Indian expatriates working in Qatar have to pay taxes there and in India. One of these taxes will be reduced through the double taxation avoidance agreement. This will help promote economic activities and prevent tax evasion. There are about five lakh Malayalis in Qatar.