India and Qatar held talks focused on boosting trade and strengthening supply chains after West Asia shipping disruptions. Bilateral trade reached about $14 billion in 2024-25, and both sides aim to double it by 2030. They also discussed exploring a Comprehensive Economic Partnership Agreement as India pursues a free trade deal with GCC members.
India’s crude oil buffers may cushion the economy from an Iran-Israel fallout, helped by diversified crude imports that reduce Hormuz-linked risk. But the bigger immediate threat is gas: Qatar’s LNG production halt, India’s largest gas supply source, is already forcing cuts in industrial supplies, raising pressure on key sectors.
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Amid regional tensions, India’s Ministry of External Affairs said 10 Indian ships have safely exited the Strait of Hormuz, but 14 vessels remain stranded in the Persian Gulf. The government is in contact with Iranian authorities for the safe return of the stranded ships. Separately, the MEA confirmed Commander Purnendu Tiwari remains detained in Qatar, with support efforts underway for him and his family.
The IEA warns that global LNG markets will stay tight until 2027 as Middle East conflict disrupts supply and pushes back new capacity. Shipping disruptions have removed nearly 20% of LNG supplies, driving price spikes. With Europe reducing gas demand and Asia shifting fuels, further delays in Qatar’s infrastructure could deepen supply shortfalls.
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