Doha Bank organised a Business meet in association with Andhra Chamber of Commerce, Hyderabad on “Bilateral Trade Opportunities between India, Qatar and Gulf Co-operation Council (GCC)” on 21st November 2015 at Marriott Hotel, Hyderabad.

The business meet was attended by Smt. V.L.Indira Dutt, President, Andhra Chamber of Commerce (ACC) Shri S.Balasubramanyam Reddy,ITS Joint Director General of Foreign Trade, Ministry of Commerce & Industry, Government of India, Shri R.R. Padmanabhan, Director, Ex-IM Academy,Dr.J.A.S. Giri, Vice-President & Chairman, Secunderabad Advisory Committee, Andhra Chamber of Commerce, Dr. R. Seetharaman, Chief Executive Officer, Doha Bank, State of Qatar and Senior Members of Andhra Chamber of Commerce and Industry and other leading corporates from the State of Andhra Pradesh and Telangana.

Smt. V.L.Indira Dutt, highlighted the business support offered by Doha Bank for Indian business communities to expand their boundaries of business in India and GCC countries especially exploring the untapped business opportunities in Qatar with the help of Doha Bank. Shri.S.Balasubramanyam Reddy expressed various opportunities for Indian Exporters. He has mentioned exporting of agricultural products has greater demand among Indians. Shri. R.R.Padmanabhan, critically analysed the business opportunities in Gulf Countries, in his presentation Indian Pharmacy Manufactures can explore the possibilities of setting up their business operation in Qatar. Apart from pharma he has mentioned the opportunities for Solar Power Industries, Clean energy, Petro Chemical Industries, Development of Infrastructure, Logistics, Food products.

On the Key note Address Dr. R. Seetharaman, CEO of Doha Bank gave insight on global economy. He said “ According to recent IMF forecast, Global growth is projected to decline from 3.4 percent in 2014 to 3.1 percent in 2015, before picking up to 3.6 percent in 2016. The decline in growth this year reflects a further slowdown in emerging markets, partially offset by a modest pickup in activity in advanced economies—particularly in the euro area. There is a risk that slowdown in emerging economies could defeat the weak advanced economic recovery. The deflation risks can also emerge on account of significant fall in oil price and other commodities thereby contribute to global slowdown. The risk of currency war has also emerged on account of Yuan devaluation by Chinese Central Bank. Fed has still kept the options of rate hike in 2015.”

Dr. R. Seetharaman highlighted on Indian economy. He said “ According to recent IMF forecast, Indian economy is expected to grow by 7.3 percent in 2015- 16. The drop in oil price could ease the pressure on India’s current account deficit and fiscal deficit. According to Financial times report, India has attracted $30bn by end of June 2015 as compared to $12bn in first half of last year. India has recently eased FDI norms in 15 major sectors including defence, construction, civil aviation, media and others. The easing of FDI norms will increase India’s attractiveness as an investment destination. ”

Dr. R. Seetharaman gave insight on Andhra Pradesh He said “Andhra Pradesh’s gross state domestic product (GSDP) was estimated at US$ 85.8 billion over 2014-15. It has a well-developed social, physical and industrial infrastructure and virtual connectivity. It also has good power, airport, IT and port infrastructure. It is the first state in the country to have enacted the Industrial Single Window Clearance, which made it compulsory for new industries to register with the single-window to obtain clearances quickly. The World Bank as highlighted Andhra Pradesh as No 2 among Indian States in Ease of Doing Business. GCC Sovereign investors can look forward to invest in Andhra Pradesh. ”

Dr. R. Seetharaman highlighted on Qatar economy and major bilateral relationships with India. He said “Qatar’s economy is expected to grow by more than 4.7 percent in 2015. Qatar’s GDP rose 4.8 percent in the second quarter of 2015, helped by robust growth in construction, financial services and hospitality sectors. The bilateral trade between Qatar and India in 2014-15 is close to US$ 16 bn. The overall trade between GCC and India in 2014-15 is over US$ 133bn. Qatar is the largest supplier of LNG to India. There is a large market for Qatar’s LNG, oil and petrochemical sectors in India. In May 2013 Qatar bought a 5% stake in Indian telecom company Bharti Airtel Ltd for $1.26bn. Many Indian Companies such as L&T, Tata Projects, Voltas and Punj Llyod have been actively participating in the various projects Qatar.”

Dr. R.Seetharaman gave insight on the current trends in GCC Project Sector. He said “Projects worth more than $170bn in 2015 in GCC out of which projects worth close to $30bn in Qatar. In Qatar sectors such as Construction, transport and water will witness significant activity. Indian companies can look forward to explore opportunities in this segment.”

Dr. R. Seetharaman highlighted the significant contribution of the SME sector in GCC. He said “In UAE SMEs contribute to over 60 per cent of the GDP and provide around 86 per cent of the employment in the private sector. SMEs can participate in Qatar’s non hydrocarbon diversification. There is a high concentration of micro, small and medium enterprises (MSME) in Andhra Pradesh in the food sector, mineral and building materials sector, drugs and pharmaceuticals, fabricated materials, trading and service sectors. The Andhra Pradesh MSME Policy 2015-20 is also set to give a huge boost to entrepreneurs by providing seed capital to them. Qatar can partner in Andhra Pradesh’s infrastructure development.

There was a Question and Answer Session which was followed up by Vote of Thanks by Dr J.A.S. Giri – Vice President & Chairman, Secunderabad Advisory Committee Andhra Chambers of Commerce.