India and Qatar are targeting doubling their trade to $28 billion in the next five years and are exploring the signing of a free trade agreement, the Indian foreign ministry said on Tuesday. The announcement came after talks between Indian Prime Minister Narendra Modi and Qatar's Emir Sheikh Tamim bin Hamad Al-Thani,

India is in the process of negotiating a Free Trade Agreement (FTA) with the Gulf Cooperation Council (GCC) and is also considering an FTA with Qatar: MEA

India and Qatar elevate their relationship to a strategic partnership, aiming to double trade to USD 28 billion in five years through new agreements.

India said on Monday that bilateral merchandise trade with the United States has increased by about 8% to more than $106 billion in the ten months through January and a proposed trade pact between the two countries will further benefit both.

India’s merchandise trade deficit rose to a two-month high of $22.99 billion in January on the back of higher imports. Economists had expected the January trade deficit to be $22.35 billion, according to a Reuters poll.

India’s exports witnessed a 6.03 percent growth during April-December 2024, reaching an estimated $602.64 billion, compared to $568.36 billion in the same period of 2023.