The Peninsula/QNA

India a global economic power in making: Attiyah

3/26/2006

Doha: India is a gigantic global economic power in the making, says the Second Deputy Premier and Minister of Energy and Industry, H E Abdullah bin Hamad Al Attiyah, reports Qatar News Agency (QNA) from Muscat.

    Abdullah bin Hamad was speaking at the second GCC-India Industrial conference, which began here yesterday.

Two years had passed since a similar conference, the first, was held in Mumbai. Qatar and India have witnessed remarkable economic growth in these two years, he said.

    Energy supplies will play a major role in helping India attain 10 per cent growth rate, which it aspires to achieve, Al Attiyah told the businessmen from the GCC and India attending the conference.

    To help India attain such a growth percentage, the GCC member states in general and Qatar in particular, should extend assistance to it. Ensuring enough supplies of liquefied natural gas (LNG) from Qatar to India's Petronet reflects active cooperation with India.

    Qatar has emerged as a leading producer of petrochemicals and fertilizers as well over the past three decades and the largest portions of Qatar's exports of ammonia, urea, caustic soda , methanol and ethylene chloride dioxide and vinyl dioxide are directed to India.

    India on its part exports foodstuff, vegetables, canned food, and electric equipment, among other things, to Qatar.

    Abdullah bin Hamad further said that in the light of fast-paced industrial development in Qatar and India, a lot of other joint venture projects are under discussion by the two sides in sectors like iron and steel, petrochemicals and others.

    Abdullah bin Hamad said that there were a large number of Indian businessmen and contractors to promote joint projects covering these domains and expressed the hope that these projects would fructify.

    The Indian workforce in Qatar represents a significant portion of the industrial labour. In addition, there are engineers, technicians and other skilled Indian employees. "We owe India gratitude for such a fruitful and constructive cooperation", Abdullah bin Hamad told the participants.

******