| Provider | Amount To Send | Fee | Exchange Rate | Speed | ||
|---|---|---|---|---|---|---|
 |
Moneycorp | QAR ﷼ 10,000.00 | No Fee | 22.5747 | 1-3 days | more... |
 |
Smart Currency Exchange | QAR ﷼ 10,000.00 | 23.21QAR | 22.8329 | 1-3 days | more... |
One-off payments | Regular payments | Great rates | Safeguarded customer funds
Qatar and India have a historically friendly relationship, especially in the areas of trade and labour migration. Both countries cooperate in areas such as defence, trade and investment, security, law enforcement, civil aviation and human resources.
Around a quarter of the population in Qatar are Indian, which has driven up international money transfers to the country. If you’re looking to send money from Qatar to India quickly, safely and without large fees, this guide will help.
The Qatari Riyal (QAR, Qr) has been in use since the 1960s, since the Indian rupee (INR) devalued and Qatar decided to switch from the Gulf rupee to their own currency. It is pegged to the United States dollar (USD), unlike the INR which is a floating currency.
The QAR is a highly convertible currency and there are no restrictions to transfer money from QAR to INR, whether in the form of royalties, interest earned, salaries or any other fees.
If you want to transfer money from Qatar to India, you can find favourable exchange rates and transfer with low or no fees by comparing money transfer providers.
Indian nationals require a visa in order to visit, study, work, or do business in Qatar if staying for more than 30 days. The process has been made easier with e-Visas, as you can send supporting documents electronically.
There are several different types of visas you can choose from, including tourism, business, work and visas for family. Prices for each type of visa will vary depending on the validity length. In order for your visa to be processed, you will need to supply a passport with at least six months validity from when you arrive, along with documentation relating to your visa type.
More details on the requirements for each visa type and the category you fit into can be found on the website of the Embassy of India in Qatar.
As the number of Indian nationals in Qatar grows closer to one million, so does the flow of money transfers from India to Qatar, and vice versa. India surpassed $100bn in 2022, making it the single largest recipient of global remittance flows.
As of February 2015, the Indian government has prohibited outgoing cash transfers that are denominated in rupees in an effort to keep currency on the local market. High numbers of Indian migrant workers in Qatar and other Gulf countries make this a critical region for the remittance sector. A large number of companies are present in the Gulf to transfer remittances to India, as this is such an important financial channel.
A few Indian banks such as HDFC and ICICI Bank have operations in Qatar, providing service for non-resident Indians. They and other money transfer agencies are regulated to make it more efficient to transfer money from Qatar to India.
India’s financial sector includes a wide variety of private, public and international banks to choose from if you plan to establish a local bank account. Although international banks such as Barclays and Citibank may be the first choice for expats to India, Indian banks offer strong competition with electronic services, numerous ATMs and dedicated banking managers to assist with transactions.
For frequent international transactions, take a look at the global money transfer providers available, as you could ensure your recipient receives the best exchange rates without the fees.
A double taxation agreement in effect between Qatar and India ensures that each country’s citizens are only required to pay tax once on income made in either country.
Bilateral trade between India and Qatar has increased steadily in recent years, with Qatar exporting $15.15bn in 2022 and importing $2.07bn in the same year. This growth has been substantial since 2016. Main imports from India include metals, cereals, vehicles and electricals, and exports are fuels, oils, organic chemicals and plastics
Many Indian companies have established branches in Qatar and are working with major contracts with Qatari businesses. Over nine thousand Indian companies operate in Qatar, which correlates with the high population of Indian nationals in the country. These include NIIT, Tech Mahindra, L&T, Voltas and HCL. The two countries are frequently in talks about investing in one another, building on an already firmly established bond.
Whatever your reason for money transfers from Qatar to India, you could be facing charges on the receiving end due to exchange rates and fees. By comparing the top money transfer providers, you can find the best deal for your QAR to INR transfer.
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All the providers listed are regulated by the relevant authority (e.g. the FCA in the UK, FinCEN in the US, ASIC in Australia) and have been vetted by FXcompared.
FXcompared.com is an fx money comparison site for international money transfer and to compare rates from currency brokers for sending money abroad. The website and the information provided is for informational purposes only and does not constitute an offer, solicitation or advice on any financial service or transaction. None of the information presented is intended to form the basis for any investment decision, and no specific recommendations are intended. FXC Group Ltd and FX Compared Ltd does not provide any guarantees of any data from third parties listed on this website. FX compared Ltd expressly disclaims any and all responsibility for any direct or consequential loss or damage of any kind whatsoever arising directly or indirectly from (i) any error, omission or inaccuracy in any such information or (ii) any action resulting therefrom.
