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Tribune News Network
Doha
The Qatar Financial Centre (QFC) in partnership with the Indian Business and Professional Council (IBPC) hosted an annual ‘Qatar-India Networking Event’ organised by the two bodies.
The event aims to spread awareness about business reforms introduced by Qatar to make investment climate in the country more open and investor-friendly.
HE P Kumaran, ambassador for India to Qatar , Yousuf Mohamed al Jaida, Chief Executive Officer, QFC Authority and KM Varghese, president, IBPC attended the opening event.
Qatar and India share an excellent bilateral trade and investment relationship which is growing steadily.
In 2017, India’s exports to Qatar saw an impressive increase of 87 percent to reach $1.5 billion. India also remains the third largest export destination for Qatari products, while Qatar is the largest supplier of LNG to India, accounting for over 65 percent of India’s global import and 15 percent of Qatar’s LNG exports. The total trade between India and Qatar was over $ 10.5 billion in 2017-2018.
With 24 fully- owned Indian companies operating in Qatar and an estimated 6,000 Qatar-India joint ventures operating in the infrastructure, ICT, energy sector, and other ares, the contribution of Indian businesses to the local economy is undeniable. QFC is also home to 31 Indian businesses, including Tech Mahindra and FinTech firm Goals101.
Thanking QFC for partnering with IBPC in the initiatives to promote business and investment relations, the Indian ambassador said, “India with a nominal GDP of over $2 trillion (over $ 7 trillion on PPP basis) and growth rate of over 7.5 percent has emerged as the fastest growing economy in the world.
“The Indian growth story has a lot to offer to Qatar in terms of investment opportunities, such as a well-trained and qualified workforce and a promising market and business partnerships to mention a few. The embassy will continue to extend support to QFC in its efforts to promote business and commercial linkages.”
Yousuf Mohamed al Jaida said, “We are proud to host the Qatar-India Networking Event in partnership with IBPC. The importance of the Indian market for the QFC and Qatar at large cannot be underestimated.
“Qatar and India have always enjoyed well-established bilateral ties, and the QFC will continue to support the thriving Indian business community in Qatar, which plays an active role in the continued development of these important relations.
“IBPC sees QFC as it’s natural partner in Qatar to fulfil their vision of bringing as many Indian companies and investors to Qatar as possible using the unique
QFC platform,” said KM Varghese, president of IBPC, while welcoming the guests to the event.
“In the coming year we aim to have increased cooperation with QFC for more joint events like roadshows in major Indian cities to attract Indian business houses to Qatar,” he added.
QFC allows companies to operate in and from Qatar within the QFC legal and tax environment. It endeavours to promote Qatar as an attractive business destination.
Companies that wish to establish a business in QFC are guided throughout by a dedicated QFC relationship manager who assists in the process of obtaining a licence and offers support in matters related to operating a business in Qatar.
QFC firms enjoy competitive benefits such as working within a legal environment based on English common law, the right to trade in any currency, up to 100 percent foreign ownership, 100 percent repatriation of profits, 10 percent corporate tax on locally sourced profits, and an extensive double taxation avoidance agreement network with over 60 countries.
Doha
The Qatar Financial Centre (QFC) in partnership with the Indian Business and Professional Council (IBPC) hosted an annual ‘Qatar-India Networking Event’ organised by the two bodies.
The event aims to spread awareness about business reforms introduced by Qatar to make investment climate in the country more open and investor-friendly.
HE P Kumaran, ambassador for India to Qatar , Yousuf Mohamed al Jaida, Chief Executive Officer, QFC Authority and KM Varghese, president, IBPC attended the opening event.
Qatar and India share an excellent bilateral trade and investment relationship which is growing steadily.
In 2017, India’s exports to Qatar saw an impressive increase of 87 percent to reach $1.5 billion. India also remains the third largest export destination for Qatari products, while Qatar is the largest supplier of LNG to India, accounting for over 65 percent of India’s global import and 15 percent of Qatar’s LNG exports. The total trade between India and Qatar was over $ 10.5 billion in 2017-2018.
With 24 fully- owned Indian companies operating in Qatar and an estimated 6,000 Qatar-India joint ventures operating in the infrastructure, ICT, energy sector, and other ares, the contribution of Indian businesses to the local economy is undeniable. QFC is also home to 31 Indian businesses, including Tech Mahindra and FinTech firm Goals101.
Thanking QFC for partnering with IBPC in the initiatives to promote business and investment relations, the Indian ambassador said, “India with a nominal GDP of over $2 trillion (over $ 7 trillion on PPP basis) and growth rate of over 7.5 percent has emerged as the fastest growing economy in the world.
“The Indian growth story has a lot to offer to Qatar in terms of investment opportunities, such as a well-trained and qualified workforce and a promising market and business partnerships to mention a few. The embassy will continue to extend support to QFC in its efforts to promote business and commercial linkages.”
Yousuf Mohamed al Jaida said, “We are proud to host the Qatar-India Networking Event in partnership with IBPC. The importance of the Indian market for the QFC and Qatar at large cannot be underestimated.
“Qatar and India have always enjoyed well-established bilateral ties, and the QFC will continue to support the thriving Indian business community in Qatar, which plays an active role in the continued development of these important relations.
“IBPC sees QFC as it’s natural partner in Qatar to fulfil their vision of bringing as many Indian companies and investors to Qatar as possible using the unique
QFC platform,” said KM Varghese, president of IBPC, while welcoming the guests to the event.
“In the coming year we aim to have increased cooperation with QFC for more joint events like roadshows in major Indian cities to attract Indian business houses to Qatar,” he added.
QFC allows companies to operate in and from Qatar within the QFC legal and tax environment. It endeavours to promote Qatar as an attractive business destination.
Companies that wish to establish a business in QFC are guided throughout by a dedicated QFC relationship manager who assists in the process of obtaining a licence and offers support in matters related to operating a business in Qatar.
QFC firms enjoy competitive benefits such as working within a legal environment based on English common law, the right to trade in any currency, up to 100 percent foreign ownership, 100 percent repatriation of profits, 10 percent corporate tax on locally sourced profits, and an extensive double taxation avoidance agreement network with over 60 countries.
