Qatar’s manufacturing and industrial sectors have the support of Indian companies, which are eyeing to participate in a diverse range of investment opportunities, such as projects and joint ventures related to the 2022 FIFA World Cup, a prominent business leader in Doha said.
Dr Mohamed Althaf, director of LuLu Hypermarket Group, stressed that countries are securing their own supply chains, food production, and basic amenities, among other priorities to cope with the impact of Covid-19.
“In times such as this… Indian companies such as LuLu will always support Qatari products and the State’s efforts to ramp up its manufacturing and production industries,” said Althaf, who noted that Qatar-India ties “have been growing deeper, broader, and stronger.”
He said the strength of both the countries’ economic relations lies on reciprocity, citing India’s reliance on the supply of clean energy from Qatar. Similarly, Althaf said: “Qatar is looking to India from a food security perspective,” citing India’s new logistics route that is connected to Hamad Port via two direct shipping channels.
“Qatar has close to 44 daily flights to different cities in India; these flights not only transport people but also various cargo... that is why there is also a lot of bilateral trade happening there. Today, a lot of Indian products are becoming more visible and accepted in Qatar. In the last four years, we have reached an almost 300 times growth in terms of bilateral trade with Qatar,” Althaf told Gulf Times.
Althaf said Qatari and Indian companies are expected to establish several joint ventures this year. Besides food products, Althaf said Indian companies specialising in technology and innovation are eyeing to expand their footprint in Qatar.
“Qatar has a very robust financial market. Entities such as the Qatar Financial Centre (QFC) and the Qatar Free Zones Authority have been attracting Indian companies that are eager to locate in the country as part of their expansion plans. And because of the series of legal and economic reforms initiated by the government, many Indian companies want to benefit from these incentives. 
“I think the chemistry has changed – rather than just Indian products coming to Qatar, we are now seeing a lot of companies from India bringing their businesses and expertise to Qatar, so they can invest and benefit from the existing progress that is happening in the country,” he pointed out.
According to Althaf, Qatar has developed “very solid infrastructure” in the last three and a half years, especially in the run up to the 2022 FIFA World Cup. He said LuLu is preparing for the influx of tourists during the games, particularly Indian football fans.
“International tourists are keen to visit Qatar and experience the wide range of amenities available in different sectors, especially in the hospitality sector, as well as in the retail, entertainment, and tourism industries. “Indians love sports and the 2022 FIFA World Cup will provide them access to a world-class sporting event next year. We are preparing... we are enhancing our capacity, so that we will have additional number of stores open in time for the World Cup next year. LuLu also aims to encourage Indians to visit Qatar as a premier sports destination,” he said.