Kamal Nagi, Chief Strategy and Business Development Officer, QFC Authority, said “Qatar currently ranks 18th on the most competitive economies list by the World Bank. Qatar’s National Vision 2030 has been outlined to lead the country towards becoming an advanced society capable of sustaining its development and providing a high standard of living. Qatar has also taken several measures including building up strong surpluses, encouraging economic diversification and development of the private sector, which now render Qatar’s economy resilient and able to sustain real GDP growth.”
Indian companies from across sectors such as infrastructure, banking, insurance, information technology and consulting have been present in Qatar for over several years and have rapidly grown owing to the region’s business friendly policies and simplified tax and regulatory structure. Some of the largest Indian companies invested in Qatar successfully include Zomato, Larsen & Toubro, Voltas, Shapoorji Pallonji, TCS and ICICI Bank.
On the sidelines of Qatar’s first ever roadshow in India, Akshay Randeva, Director of Strategy & Business Intelligence, QFC Authority, said “Qatar has invested in a world-class infrastructure and envisages this momentum to grow in the run-up to the 2022 FIFA World Cup and also to achieve the state’s 2030 Vision. From India, we are observing that non-hydrocarbon exports are growing at a healthy rate of 12 per cent, which is a positive sign with a large scope for growth. These investments are in diverse areas such as IT, BFSI and professional services.”
“Indian companies already have the first mover advantage in the region and have the competitive edge. With the Qatar government working towards further simplifying the business ecosystem coupled with the economic growth in the region, Indian companies have a huge opportunity to expand outside India in the middle-eastern region,” added Kamal.