Qatar-India Trade Mission 2023 concludes on a buoyant note
Mumbai (Maharashtra) [India], March 20 (ANI/NewsVoir): Qatar Development Bank (QDB) organized the "Qatar-India Trade Mission 2023" from 15th - 16th March in Mumbai, to further strengthen the commerce, trade and business relationship between Qatar and India. The Mission witnessed a big boost in trade agreements and initiatives as agreed upon by business representatives from Qatari exporters and Indian buyers.
The Qatar-India Trade Mission saw participation from 23 leading exporters from Qatar, from various of manufacturing sectors such as aluminum alloys & profiles, base oils, copper wires, semi-treated wax, medical devices, syringes, valves, and wellheads. Companies from key service sectors such as waste management, healthcare, event solutions, educational technology, fintech solutions, F&B services, health tech solutions and ride hailing applications companies also marked their presence. The mission was a tremendous success with the Qatar mission meeting more than 150 Indian companies to discover new business opportunities and exchanging businesses and ideas.
In his opening remarks at the Qatar-India Trade Mission 2023, Dr. Hamad Salem Mejegheer, Executive Director, Qatar Export Development and Promotion Agency, Qatar Development Bank said, "India is a very strategic trade partner for Qatar and has been growing steadily over the decades. With over USD 18 billion of trade between our two countries in 2022, we are confident of increasing this further in the coming years. In terms of percentage, the trade between the two countries saw a 33 per cent growth from 2021."
Dr Manik G. Gursal, IAS, Additional Commissioner (Industries), Government of Maharashtra, also graced the occasion with his presence. "India and Qatar as two growing nations have many commonalities. Both these nations have a very young average age. India stands at 29 while it is 34 years for Qatar. Even the climate is similar and in Innovation too. Qatar is one of the richest countries in the world and we are happy to have trade dialogues with them. Today, Maharashtra is laying down red carpets for companies to invest in and removing the very concept of red tape. As a part of the Industries Department, We, promise to do our best and ensure there are speedy approvals and guidance at every step," Dr Gursal said.
Saurabh Sangla, Executive Director, Signet Industries Ltd./Adroit Industries Ltd. & Co-Chairman International Business, CII Mumbai - Western Region also remarked, "The idea behind this "Mission" which will be a first in a series of Qatar-Indian Trade Missions is to help and assist importers, wholesales, distributors and enterprises who are aiming to look at Middle East as a strategic market. India is one of the top three largest export destinations for Qatar and is also the top three sources for Qatar's imports. Due to the direct shipping lines from India's ports to the ports of Qatar, both countries are seeing a substantial increase of trade which is very encouraging."
"This trade mission is a good initiative by the two countries. Qatar is a big part of our energy security. This meet is all about a strong connect between Small and Medium Enterprise (SME) business. We believe this is just the beginning and we want everyone here to share their thoughts and experiences," said Shantanu Bhadkamkar, Chairman, ASSOCHAM Maharashtra State Development Council & MD, ATC Group.
The Qatar-India Trade Mission created a perfect avenue for both countries to exchange their expertise, capabilities and opportunities for growth, all under one roof.
Qatar Development Bank (QDB), previously known as Qatar Industrial Development Bank, was established in Qatar in 1997 by Emiri Decree No. 14 as a developmental organization with the primary objective of fueling industrial growth and driving the private sector's economic diversification. Over two decades of transformation, QDB has reinvented itself to become the main supporting arm for Qatar's private sector and a powerful catalyst for socio-economic development through three access-based pillars to SME and private-enterprise support: Access to Finance, Access to Markets, and Access to Capability.
The Bank's whole-journey support system covers various financing schemes and consultation services that include marketing, legal advice, booking, mentoring and development, grants and accreditation, and capacity-building platforms. This has allowed QDB to become the SME's growth partner from ideation to fruition, meeting their aspirations at every stage in order to compete at the national and global levels, while improving the economic development cycle and bringing the country closer to realizing its national vision for 2030.
Today, the Bank and its subsidiaries are building on Qatar's rich legacy of socio-economic achievements by taking a brave leap into the future and focusing on the digital transformation of the country's SME and business ecosystems to usher entrepreneurs and SMEs into the new economy, embrace emerging opportunities, and steadily transform QDB into a digital bank of the future and a lighthouse that leads the way for financial and developmental institutions across the region and beyond.
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