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Key Points

Commerce Minister Piyush Goyal met with Qatar Development Bank CEO Abdulrahman Al-Sowaidi during his official visit to Doha. He expressed delight at Qatari businesses showing interest in India's growing economic opportunities. Goyal also launched India's UPI payment system at Lulu Hypermarket in Qatar, marking a significant step in digital connectivity. This move will facilitate easier cross-border transactions and strengthen trade relations between the two countries.

Key Points: Piyush Goyal Meets Qatar Development Bank CEO in Doha

  • Goyal invited QDB to enhance collaboration in India's growth story
  • Minister explored partnerships across startups, MSMEs and innovation sectors
  • India's UPI launched at Lulu Hypermarket for seamless Qatar transactions
  • System operational at Qatar National Bank POS terminals across market
  • Joint Commission meeting co-chaired to strengthen economic cooperation
  • Digital payment expansion reflects India's global financial connectivity push
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Piyush Goyal meets CEO of Qatar Development Bank to enhance collaboration between the two countries

Commerce Minister Piyush Goyal meets QDB CEO Abdulrahman Al-Sowaidi, launches UPI in Qatar to boost trade and startup collaboration between both nations.

"Glad to meet H.E. Mr. Abdulrahman Hesham Al-Sowaidi, CEO of Qatar Development Bank - Piyush Goyal"

New Delhi, October 7

The Union Minister of Commerce and Industry, Piyush Goyal, is on an official visit to Doha, Qatar, from 6-7 October 2025. During his visit, Goyal met the CEO of Qatar Development Bank (QDB), Abdulrahman Hesham Al-Sowaidi. The minister highlighted that he is delighted to see Qatari businesses take an interest in the opportunities offered by the Indian economy.

Taking to social media, Goyal said, "Glad to meet H.E. Mr. Abdulrahman Hesham Al-Sowaidi, CEO of Qatar Development Bank (QDB). Delighted to see the interest of Qatari businesses and investors in the opportunities offered by the rapidly growing Indian economy. Invited QDB to enhance collaboration in our growth story and explore partnerships across startups, MSMEs, and various innovation-led sectors."

The minister also co-chaired the meeting of the India-Qatar Joint Commission on Economic and Commercial Cooperation along with H.E. Sheikh Faisal bin Thani bin Faisal Al Thani, Minister of Commerce and Industry of the State of Qatar.

Goyal launched India's own UPI at Lulu Hypermarket in Doha on Monday, allowing for seamless and cost-effective transactions between the two countries. This move is part of India's effort to expand its digital payment services globally and strengthen financial ties with other nations.

Announcing the launch on X, Piyush Goyal said, "Proud to launch Bharat's own UPI at Lulu Hypermarket in Doha, Qatar. This launch is a game-changer for digital connectivity and ease of payments, reflecting India's commitment to facilitating cross-border commerce and leveraging 'Digital India' initiatives."

He added that the system is operational at Qatar National Bank's point-of-sale (POS) terminals, covering large parts of the Qatari market. According to him, this step will help Indian travellers and strengthen trade and tourism between India and Qatar.

"It's an opportunity to expand our trust between Qatar and India because as we seamlessly integrate the payment systems of both countries, our people will be able to trade more, trade smarter at lower cost," Goyal remarked.

- ANI

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Reader Comments

R
Rohit P
Great initiative by Minister Goyal. Qatar has been a reliable partner for India, especially in energy supplies. Expanding to startups and MSMEs will create more opportunities for our young entrepreneurs.
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Arjun K
While I appreciate the efforts, I hope these collaborations actually benefit small Indian businesses and not just large corporations. Sometimes these agreements look good on paper but implementation takes years.
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Sarah B
As someone who travels frequently between India and Qatar for work, the UPI integration is a game-changer! This will save so much time and transaction costs. Digital India making global impact! 💪
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Vikram M
Qatar has one of the highest per capita incomes in the world. If Indian startups can tap into that market through QDB partnerships, it could be huge for our economy. Good strategic move!
M
Michael C
The timing is perfect with India's growing economic influence. Hope to see more such collaborations with other Gulf countries too. This strengthens our position in the region.

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