The agreement is aimed at checking terror financing, hawala money as well as other sources of illegal financial transactions, Secretary (Economic Relations) in the External Affairs Ministry Amar Sinha said.
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The two countries signed a range of agreements, including memorandums on tourism, financial cooperation, infrastructure investment, cultural cooperation, and health care cooperation.
Though Qatar was the largest source of LNG for India, both sides felt that the time has come to move beyond the trading relationship and get into strategic investments, he said.
The visit follows the Modi’s trip to the UAE last August, and builds on Qatari Emir Sheikh Tamim bin Hamad Al Thani’s last visit to India in March 2015, where the two sides signed six agreements.
Modi also held a meeting with Swiss business leaders and invited them to invest in India. The Prime Minister had called him on that day to convey the greetings over phone.
“Business First. For first engagement of the day, PM attends roundtable meeting with Qatari Business Leaders”, the spokesperson said in another tweet following Modi’s meeting here with business leaders.
Afghan President Ashraf Ghani, center right, and Indian Prime Minister Narendra Modi jointly press a button symbolically starting the Salma Dam during the inauguration ceremony, in Herat province Afghanistan, Saturday, June 4, 2016. Qatar Airways has expressed interest in expanding its routes to India and in buying a stake in budget airline IndiGo.
But the policy has just reversed after the 14th Finance Commission’s report – 65 per cent of proceeds go to states, while only 35 per cent is kept by the Centre, Mr Modi said, adding that he has resolved to rid India of corruption.
The trade between India and Qatar stands at $10 billion.
Prime Minister Narendra Modi arrived in Switzerland on the third leg of his five-nation tour during which he will hold talks with Swiss President Johann Schneider-Ammann to deepen bilateral and multilateral cooperation.
Prime Minister Modi also acknowledged that many workers do need counseling after finding themselves rather lonely in a foreign land; also that diabetes is becoming a new challenge for them.
“Am looking forward to address the 40th AGM of the USIBC and meet United States business leaders who have, over the past two years, shown renewed confidence in the India”.
The Prime Minister told the Emir that India has attained experience in holding mega sporting events and could share the experience.
The bilateral trade for the financial year 2014-15 stood at Dollars 15.67 billion, of which India’s exports accounted for almost USD 1 billion.
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Indian Prime Minister Narendra Modi pledged to press for changes to rules and regulations to benefit Qatar’s Indian population during his first official visit to the country. It is due to the 125 crore people of India.
