Indian firms see Qatar as ‘springboard’ to Gulf, international markets, says top LuLu exec

As Qatar emerges as a key global investor and tech hub, many Indian companies are eyeing the country as a springboard to the Gulf region and nearby international markets, said Dr Mohamed Althaf, director of LuLu Group International.

Speaking to Gulf Times, Althaf revealed that many Indian businesses see a strategic advantage in establishing connections with Qatar. “Many Indian companies are very enthusiastic because they all want to use Qatar as a springboard to access other markets that Qatar is close to like Africa, the Middle East, and even other countries in Europe, as well as the US.”

He highlighted Qatar’s world-class infrastructure as a key attraction. “There is a lot of understanding about trade infrastructure that Qatar created, including the Hamad Port, and we have one of the best airlines in the world, so people understand that from a cargo transportation point of view,” he noted.

Althaf also noted that the “enormous respect that Qatar has acquired in the last couple of decades” was highlighted during His Highness the Amir Sheikh Tamim bin Hamad al-Thani’s recent state visit to India.

“Previously, Qatar was recognised as a major energy exporter; however, today, I have observed that Qatar’s reputation outside this region, particularly in the south, is that it has emerged as a significant investor in technology and startups,” Althaf pointed out.

Witnessing HH the Amir’s state visit to India, Althaf emphasised that many companies there have admired Qatar’s digital transformation. Similarly, he emphasised that business leaders in India were particularly impressed by Qatar’s technological advancement.

“The impression of the business leaders I spoke with in India is that Qatar has achieved remarkable digital transformation, smart city projects, and how the country has become a major hub for all kinds of startups and technology; these milestones are very well-admired,” he stressed.

According to Althaf, Qatar has made plenty of strides since it hosted a very successful FIFA World Cup in 2022. Since then, the country has transformed its global image from being primarily an energy exporter to a well-recognised investor in technology and startups, Althaf stressed, citing the 2nd edition of Web Summit Qatar held last month.

Althaf also noted that Qatar is now “well known as a sports tech event headquarters” following “the fantastic World Cup that we all enjoyed in Qatar,” adding that the country’s “capacity to act as a conflict resolver” has also improved its international standing.

Qatar’s educational and research capabilities were also highlighted during discussions, said Althaf, who added: “Qatar’s other institutions have become very popular, like universities and research institutes. In a country like Qatar, we have universities that are ranked in the top 100 in the world.”

Evolving beyond transactional relationships, Althaf said a key development in Qatar’s international relations has been the progression from purely trade-based interactions to more integrated partnerships.

“Qatar-India relations, as well as the country’s ties with many other countries in the south, are progressing beyond transactions. Before it was an export-import relationship, but Qatar is now discussing co-investing, developing, nurturing, and helping countries around the world,” Althaf stated.