India and Qatar Discuss Wider UPI Rollout, Investment Treaty and $10 Billion Investment Commitment

India and Qatar have discussed expanding the use of the Unified Payments Interface in Qatar, advancing negotiations on a bilateral investment treaty and taking forward Qatar’s $10 billion investment commitment to India.

Union Finance and Corporate Affairs Minister Nirmala Sitharaman held talks with Qatar’s Finance Minister Ali bin Ahmed Al Kuwari in Doha on September 29, 2026, during her official visit to Qatar for the 11th Annual Meeting of the Board of Governors of the Asian Infrastructure Investment Bank.

The discussions focused on strengthening trade, finance and investment ties between the two strategic partners, while also reviewing measures that can provide greater certainty and convenience for businesses, investors and travellers.

Wider UPI Acceptance in Qatar

Digital payments formed an important part of the discussions, with both sides considering the wider acceptance of India’s Unified Payments Interface across Qatar.

UPI is already operational at QNB Points of Sale in Qatar, and the two countries had earlier expressed support for expanding its acceptance nationwide. A wider rollout would allow Indian travellers, residents and other users to make digital payments more easily through the Indian real-time payments ecosystem.

The expansion of UPI in Qatar would also strengthen financial connectivity between the two countries and deepen cooperation in digital public infrastructure and fintech.

India and Qatar had formally welcomed the operationalisation of UPI in Qatar during their earlier bilateral engagements and agreed to work towards broader acceptance across the country.

Focus on Qatar’s $10 Billion Investment Commitment

The two finance ministers also reviewed Qatar’s commitment to invest $10 billion in India.

The investment commitment was announced as part of the broader strengthening of India–Qatar economic relations and is intended to support opportunities across sectors such as infrastructure, manufacturing, technology, logistics, energy and other areas of mutual interest.

The current discussions focused on creating conditions that can facilitate the deployment of these investments and give Qatari investors greater clarity and predictability in the Indian market.

Qatar is already an important source of institutional capital, and its sovereign and private investment entities have participated in several sectors of the Indian economy. The $10 billion commitment creates the potential for further expansion of this relationship as India continues to scale up infrastructure and advanced manufacturing.

India–Qatar Bilateral Investment Treaty Moves Forward

Finalisation of the proposed India–Qatar Bilateral Investment Treaty was another major subject discussed during the meeting.

India and Qatar had earlier agreed to expedite negotiations on the treaty as part of the elevation of their relationship to a strategic partnership. A BIT establishes a formal framework for protecting investments made by investors from one country in the other and provides legal clarity on the treatment of cross-border investments.

Progress on the treaty is particularly relevant as the two countries seek to encourage larger investment flows and create a more predictable framework for long-term capital deployment.

The Department of Economic Affairs is responsible for India’s bilateral investment treaty framework and has been negotiating new agreements with several countries as part of a broader effort to modernise the country’s investment protection architecture.

Tax Certainty and the Revised Double Taxation Agreement

Tax certainty for investors also forms an important part of the India–Qatar economic relationship.

India and Qatar signed a revised Double Taxation Avoidance Agreement in February 2025 during the state visit of Amir Sheikh Tamim bin Hamad Al Thani to India. The agreement is intended to ensure that the same income is not taxed twice while providing clearer tax treatment for individuals and businesses operating across the two jurisdictions.

The revised tax framework, together with the proposed Bilateral Investment Treaty, can provide a more structured environment for companies and investors planning long-term economic engagement between India and Qatar.

Strategic Partnership Broadens Economic Cooperation

India and Qatar elevated their relationship to a strategic partnership in 2025, expanding cooperation across trade, investment, energy, technology, finance and people-to-people ties.

Both countries have also discussed doubling bilateral trade by 2030 and strengthening cooperation in areas including digital economy, healthcare, agriculture, tourism, infrastructure and green growth.

Financial connectivity has become an increasingly important part of this relationship. Alongside UPI expansion, the two sides have also explored settlement of bilateral trade in their respective currencies and greater cooperation between financial institutions.

Stronger Framework for India–Qatar Economic Ties

The Doha discussions indicate that India and Qatar are now moving from broad strategic commitments towards more detailed implementation in finance, investment and digital payments.

A wider UPI network in Qatar would improve payment convenience and strengthen digital connectivity, while progress on the Bilateral Investment Treaty and the $10 billion investment commitment can provide a stronger institutional base for future capital flows.

Taken together with the revised Double Taxation Avoidance Agreement and the strategic partnership established in 2025, the current engagement is helping build a more integrated and predictable India–Qatar economic relationship.

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References

Prime Minister of India — India–Qatar Joint Statement, issued during the State Visit of the Amir of Qatar to India. PM India

Press Information Bureau, Ministry of Finance — “Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman will embark on an official visit to Qatar from 27 to 29 September 2026,” September 27, 2026. Press Information Bureau

Department of Economic Affairs, Ministry of Finance, Government of India — Bilateral Investment Treaty framework and agreements. DEA

Press Information Bureau, Ministry of Commerce and Industry — India–Qatar economic engagement, investment commitment and UPI rollout in Qatar. Press Information Bureau

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