Indian finance minister Sitharaman leaves for official visit to Qatar

Finance Minister Nirmala Sitharaman embarked on a three-day official visit to Qatar from September 27 to 29. As the Indian Governor to the Asian Infrastructure Investment Bank (AIIB), she will attend the 11th Annual Meeting of the Bank's Board of Governors in Doha on September 28. Sitharaman will also engage in bilateral meetings with AIIB President and representatives from Jordan, Switzerland, Algeria, Saudi Arabia, and Nepal.

The AIIB, a multilateral development bank headquartered in Beijing, finances projects such as roads, green energy, and water systems to enhance economic and social conditions in Asia and beyond. With India as its second-largest shareholder, the bank's main focus areas include clean energy funding, environmental protection, transport, digital networks, and water infrastructure between countries.

During her visit, Sitharaman is expected to meet with Qatari government leaders and business executives, aiming to strengthen trade and investment ties between India and Qatar. India and Qatar have a robust energy partnership, including a 20-year liquefied natural gas (LNG) agreement between India’s Petronel LNG and QatarEnergy, supplying 7.5 million tonnes of LNG annually from 2028 to 2048.

This significant agreement represents a critical element of India's long-term energy security. However, India has recently increased its purchases of LNG and LPG from the United States due to disruptions in Gulf supplies from the Strait of Hormuz.