Bilateral trade between India and Qatar reached $18.77 billion in the fiscal year ending March 2023, with liquefied natural gas (LNG) imports from Qatar making up a significant portion of this trade. Qatar was responsible for more than 48% of India’s LNG imports that year.

India and Qatar are targeting doubling their trade to $28 billion in the next five years and are exploring the signing of a free trade agreement, the Indian foreign ministry said on Tuesday. The announcement came after talks between Indian Prime Minister Narendra Modi and Qatar's Emir Sheikh Tamim bin Hamad Al-Thani,

India and Qatar on Tuesday elevated their relationship to a strategic partnership and agreed to double bilateral trade to USD 28 billion over the next five years as Prime Minister Narendra Modi held w