India and Qatar: Growing Trade Relations Beyond LNG

India and Qatar share a strong trade relationship, mainly driven by LNG (Liquefied Natural Gas). Qatar is India’s largest supplier of LNG, meeting more than 50% of its total LNG imports. However, both nations are now focusing on expanding trade in other sectors to create a balanced trade partnership. Hence, it’s an opportunity for businesses in India Qatar Trade.

Key Highlights of India-Qatar Trade Relations

• Qatar: The Biggest LNG Supplier to India
  • Qatar has been supplying LNG to India for years.
  • India secured a concessional LNG deal for 20 years, saving around $6 billion.
  • LNG imports from Qatar showed a slight increase of 0.21% in 2024 compared to 2023.
  • However, LNG exports from Qatar to India declined by 15.6% from 2022 to 2024.
  • Emerging LNG suppliers are creating competition for Qatar.

World’s Top LNG Suppliers

• The demand for LNG is rising due to industrialization and the shift to clean energy.
• Top 5 LNG exporters in the world (2024 till Sep):
  • United States – 93 million metric tonnes (Rank 1)
  • Australia – 84 million metric tonnes (Rank 2)
  • Qatar – 78 million metric tonnes (Rank 3)
  • Russia and Malaysia also export significant amounts.

India-Qatar Trade Beyond LNG

Both India and Qatar are working to expand trade beyond oil and gas. The goal is to double the bilateral trade value; it’s an opportunity for businesses in India and Qatar Trade by 2030.

• Key Commodities Exported from Qatar to India (2021-2023):
  • Organic Chemicals
  • Articles of Plastic
  • Fertilizers
• Challenges:
  • All major exports from Qatar to India declined from 2021 to 2024.
  • Iron and Steel exports fell by 51.1%.
  • Fertilizer exports dropped by 67.37%.

India’s Exports to Qatar

• Growing Sectors:
  • Cereal exports increased by 7% in 2023 compared to 2022.
  • Nuclear reactors and boilers exports surged by 43.97% in 2024 compared to 2022.
• Declining Sectors:
  • Mineral fuel and oil exports dropped by 74.5% in 2024 compared to 2022.
  • Natural and cultural pearls exports declined by 43.97% in the same period.

Opportunities for Businesses in India-Qatar Trade

• Foreign Investment:
  • Qatar’s Amir has committed $10 billion investment in India for infrastructure development.
  • This will help Indian suppliers access the Qatari market more easily.
• Energy Security:
  • The concessional LNG deal ensures stable energy supplies for India.
  • Qatar secures a long-term market for its LNG exports.
• Product Diversification:
  • Bilateral trade agreements aim to reduce tariffs and expand trade in various sectors.
  • Businesses will get financial support and market access.

Conclusion

To achieve the goal of doubling trade between India and Qatar by 2030, both nations need to focus on:

• Strengthening sectoral growth
• Reducing trade barriers
• Exploring new market opportunities

This strategic partnership will help both countries achieve economic prosperity and long-term development.

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