Sitharaman meets Qatar FM, discusses UPI expansion

Finance Minister Nirmala Sitharaman on Tuesday met Qatar’s Minister of Finance Ali bin Ahmed Al Kuwari and discussed expansion of Indian UPI system in Qatar.

Meeting her Qatari counterpart on the sidelines of the AIIB annual meeting, Sitharaman also sought finalisation of the Bilateral Investment Treaty (BIT).

“The leaders discussed expansion of Indian UPI payments across Qatar; implementation of $10 billion Qatari investment commitment in India; engagement with National Infrastructure and Investment Fund @NIIFIndia; and finalisation of the Bilateral Investment Treaty,” the finance ministry said on X.

They also discussed the Double Taxation Avoidance Agreement as a strengthened framework for trade, investment and tax certainty, the ministry added. Sitharaman recalled India’s recent engagements with Qatar’s leadership, which elevated India-Qatar bilateral relations to a “strategic partnership”.

Qatar’s Finance Minister thanked the Indian community for being part of the success story of Qatar. He looked forward to bigger opportunities for strengthening trade, finance and investment relations between the two countries, the ministry added.