India and Qatar on Sunday discussed on a range of issues during the bilateral meeting to improve economic ties between the two countries, including the need to strengthen cooperation in the financial services sector such as banking, insurance and capital markets.
In a joint statement issued after the meeting of Prime Minister Narendra Modi and Emir of Qatar Sheikh Tamim Bin Hamad Al Thani, both sides have decided to expand cooperation between the financial institutions of the two countries like Securities and Exchange Board of India and the respective Central Banks.
Recognising that India offers world class medical treatment facilities at competitive cost, the two sides agreed to work towards enhancing cooperation in the health sector, including in the areas of health services, exchange of health personnel, health education and pharmaceuticals.
Expressing his appreciation for Prime Minister Modi's vision to further accelerate India's growth and development, the Emir expressed his confidence in India's growth narrative. Noting their strong potential to provide Indian economy a positive thrust for growth, he lauded the new initiatives of Prime Minister Modi including, "Start Up India", "Make in India", "Smart City", and "Clean India" etc.
Recognizing the high growth rate and the existing potential of the Indian economy, the importance of partnering in India's growth and acknowledging Qatar's significant investment capacity, the two sides discussed various avenues/instruments for Qatari investments in India, particularly in different asset classes and various infrastructure sectors as well as the disinvestments of Indian Public Sector Undertakings.
The two sides agreed to increase the level of participation in infrastructure projects in both countries. They further deliberated upon the importance of cooperation between Qatar Investment Authority and National Infrastructure and Investment Fund set up by the Government of India. The two leaders welcomed the signing of the framework agreement for participation of the Qatari institutional investors in the National Infrastructure and Investment Fund.
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The two sides agreed for regular and timely exchange of information on available investment opportunities. Both sides also recognized the need for arranging regular meetings between Qatar Investment Authority and relevant Indian authorities and public and private sector companies.
Both leaders welcomed the signing of an MoU on bilateral Cooperation in the Field of Health between the Government of Qatar and the Government of India.
Earlier, Prime Minister Modi and Emir Sheikh Tamim Bin Hamad Al Thani witnessed the signing of seven agreements to bolster ties.
The list of MoU's signed between the two nations are MoU for Investment in National Investment and Infrastructure Fund, MoU in Cooperation in Skill Development and Recognition of Qualifications and Agreement on cooperation and mutual assistance in custom matters.
The other agreements include MoU in Cooperation in Tourism, First executive program for MoU in the field of youth and sports, MoU on Cooperation in Field of Health and MoU on Finance Intelligence Unit-India (FIU-IND) and Qatar Financial Information Unit (QFIU).