The Federation of Indian Chambers of Commerce and Industry (FICCI) and the Qatar Chamber of Commerce and Industry (QCCI) signed the agreement on the occasion of Qatari Emir Sheikh Hamad bin Khalifa al Thani's state visit to India.
Sheikh Hamad is on a three-day official visit to New Delhi.
"The two chambers have agreed to set up the joint business council in order to carry out business promotional activities in trade, investment, technology transfer, services and other industrial sectors more systematically," FICCI said in a statement after signing of the agreement.
The joint business council will provide a regular and recognised forum for discussion on promotion of these activities between businessmen and industrialists of the two countries, it said.
FICCI president RV Kanoria and QCCI chairman Sheikh Khalifa bin Jassim al Thani signed the agreement.