India is preparing to take a major step in its trade diplomacy by finalizing the terms of reference for a free trade agreement (FTA) with Qatar in the first week of October. According to a senior government official, Commerce Minister Piyush Goyal is expected to travel to Doha on October 6 to conclude discussions.
The idea of a comprehensive economic partnership agreement (CEPA) between the two countries was first floated in February during the visit of Emir Sheikh Tamim bin Hamad Al-Thani to New Delhi. Both sides committed to doubling bilateral trade by 2030, marking a renewed focus on strengthening economic ties.
Qatar currently represents around 1.22% of India’s overall trade. During fiscal year 2024–25, Indian exports to Qatar were valued at roughly $1.68 billion, while imports totaled about $12.47 billion. New Delhi primarily imports liquefied natural gas (LNG), liquefied petroleum gas (LPG), petrochemicals, and aluminum products from the Gulf nation, while India exports a mix of goods ranging from manufactured items to agricultural products.
Expanding its network of FTA partners has become increasingly important for India in light of recent trade frictions with the United States. The Biden administration’s continuation of Trump-era tariffs, including a 50% duty on Indian exports with an additional 25% penalty linked to purchases of Russian oil, has compelled New Delhi to diversify its trade portfolio. For perspective, the US accounted for 11.4% of India’s total trade in FY 2024–25, highlighting the weight of the relationship.
Meanwhile, progress is also being reported on the India-EU free trade talks. A European Union delegation is currently in New Delhi for discussions, with the 13th round of negotiations set to take place this week. Minister Goyal is scheduled to meet EU Trade Commissioner Maroš Šefčovič on September 12 to further negotiations.
These parallel developments underscore India’s push to secure broader access to global markets, reduce tariff-related vulnerabilities, and strengthen its role in the global trade network.
