Gujarat Eyes Qatari Investments

Published October 15th, 2018 - 07:27 GMT
India requires huge investment in creating infrastructure for receiving liquefied natural gas to the country. (Shutterstock)
India requires huge investment in creating infrastructure for receiving liquefied natural gas to the country. (Shutterstock)

A high-level delegation from Gujarat interacted with the members of Indian Business and Professional Council (IBPC) recently to showcase various investment opportunities available in the Indian state. 

The meeting was a part of the delegation's aim to invite prospective investors to the biennial investment summit Vibrant Gujarat 2019 to be held in January next year. 

Meghmani Organics Limited Managing Director Natu M Patel, who led the Vibrant Gujarat 2019 delegation on the occasion, highlighted Gujarat's position as a leader in infrastructure development in the country.

"We invite investors in Qatar to come to Gujarat and see for themselves the development and opportunities for investments it has to offer," he told Qatar Tribune. 

"The last summit attracted good number of investors from the Gulf region. This time also we expect many investors especially from Qatar to visit Gujarat and discuss new cross-border investment opportunities and ways to expand their existing operations," he said. 

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It is a different scenario this time due to the economic blockade of Qatar by some of its neighbouring countries, Patel said adding Qatar can benefit a lot by investing in Gujarat's agriculture, food, jewellery, pharmaceuticals, garments and energy sectors.

"We are always ready to strengthen our trade ties with Qatar. While there are so many economic areas where Qatar can benefit from partnering with us, India sees Qatar as a major source to meet its growing need for energy," he said.

"India requires huge investment in creating infrastructure for receiving liquefied natural gas to the country. While we already have two LNG receiving terminal in Qatar, we need more terminals to meet the growing demand. This is the area where Qatar can play a big role. This will also facilitate for importing more LNG from Qatar," Patel said. 

Indian Business and Professional Council (IBPC) President KM Varghese, who led the Indian businessmen active in Qatar, said,"It's really remarkable how an initiative like Vibrant Gujarat can contribute to the progress of a state by way of FDI, industrial partnerships, investments and technology partnerships. IBPC has always been supporting these kind of initiatives, especially Vibrant Gujarat Summit, by attracting delegates from Qatar to the event. This time also, IBPC would be leading a delegation of businessmen based in Qatar, from Indian, Qatari and other expatriate business communities."

The meeting was also attended by Indian ambassador to Qatar HE P Kumaran.


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