Financial Daily from THE HINDU group of publications
Wednesday, Jun 22, 2005
Financial Daily from THE HINDU group of publications Wednesday, Jun 22, 2005 |
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Industry & Economy
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Infrastructure `Permit Indian cos to participate in turnkey projects of Qatar' Our Bureau
New Delhi , June 21 INDIAN companies must be allowed to participate in turnkey projects and major civil construction works that are coming up in Qatar. This was stated by the Commerce and Industry Minister, Mr Kamal Nath, during an interaction with the visiting Qatari Foreign Minister, Mr Ahmed Bin Abdulla Al-Mahmoud, here on Monday evening. Mr Kamal Nath said Indian companies should be allowed to take up the role of sub-contractors in energy-intensive and export-oriented projects of Qatar. Describing Qatar as an important trading and investment partner of India, the Minister highlighted that the country would soon become Qatar's largest customer for liquefied natural gas (LNG). India is the 8th largest destination of Qatar's exports and 10th largest in terms of value of Qatar's imports. India is the largest supplier of readymade garments, tea and vegetables to Qatar. During 2004-05, the non-oil trade volume stood at $776.11 million as against $315.44 million during 2003-04. Stating that the country has a long history of friendship and economic relations with the Gulf in general and Qatar in particular, the Minister also highlighted that about 20 per cent of population of Qatar are non-resident Indians. "We have invested in the form of human resources in Qatar and now we are looking for other investments from Qatar to India," Mr Kamal Nath said. He also said the Qatar Financial Centre, which has already been set up, and the Free Trade Zone that is likely to be established by 2007-08 could be of particular interest to Indian companies.
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