Gulf Co-operation Council (GCC)-India bilateral trade is above $130 billion, out of which trade between Qatar and India is estimated to be around $16 billion. The Indian economy is expected to grow by 7.5% in the current fiscal, throwing up more opportunities in the area of trade investment and banking.
Qatar-based Doha Bank is planning a pan-India presence in the next two years, expecting to do a business of $5 billion during this period. At present, the bank has two branches, in Mumbai and Kochi.
R Seetharaman, group chief executive officer, Doha Bank, said in an exclusive interview to Zee Business, "We have $2.4 billion exposure in India right now. We will have a pan-India presence in the next two years. The small and medium enterprises (SMEs) in Gujarat are our focus. We are the leading bank financing SMEs in Qatar, and we will take the Indian SMEs to West Asia. Gujarat and Qatar share very good bilateral opportunities, and we look forward to a long-term relationship with India."
Gulf Co-operation Council (GCC)-India bilateral trade is above $130 billion, out of which trade between Qatar and India is estimated to be around $16 billion. The Indian economy is expected to grow by 7.5% in the current fiscal, throwing up more opportunities in the area of trade investment and banking.
Seetharaman said, "Qatar and other GCC economies are involved in non-hydrocarbon diversification which will give immense opportunities for the India corporates to explore in infrastructure development in the region. India is a growing economy and hence the bilateral trade and investment between India and GCC are expected to surge in future."
He said that India will achieve a sustainable growth of 9% for around next five years.
"The country will have a sustainable growth for next 10 years as the investors from world over want to invest in India, he said.
Seetharaman said he wants corporates and the small and medium enterprises from Gujarat and India to come and invest in the Gulf countries.
On Greece crisis, Seetharaman said that India would have a limited impact, but would have huge consequences for Europe as well as the global economy. He hoped the Greek bailout referendum due on Sunday would have a positive outcome.
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