New Delhi, Feb. 20 -- The Global Trade Research Initiative (GTRI) has advised India to exercise caution in pursuing a potential free trade agreement with Qatar, particularly regarding the petrochemical sector where both nations maintain strong market positions.

The economic think tank issued this guidance on Wednesday following high-level diplomatic discussions between the two countries.

Prime Minister Narendra Modi and Qatar's Amir Sheikh Tamim bin Hamad Al-Thani recently discussed the possibility of establishing a bilateral Comprehensive Economic Partnership Agreement (CEPA).

The proposed agreement aims to double bilateral trade to USD 28 billion by 2030, according to the joint statement released after their meeting.

Typical CEPA ar...