India and the United Arab Emirates (UAE) reviewed key investment and trade priorities at the 14th meeting of the India-UAE High Level Joint Task Force on Investments (HLJTFI), held in Mumbai. The meeting was co-chaired by Union Minister for Commerce and Industry Piyush Goyal and Sheikh Hamed bin Zayed Al Nahyan, Managing Director of the Abu Dhabi Investment Authority (ADIA).
Established in 2013, the HLJTFI serves as a platform for strengthening investment ties between India and the UAE. It facilitates discussions on new investment opportunities while providing a mechanism for addressing concerns faced by investors and businesses from both countries.
The latest meeting highlighted the continued expansion of the bilateral economic partnership. India-UAE bilateral trade reached US$101.25 billion in FY 2025-26, while non-oil trade stood at US$76.2 billion in 2025. Both countries are working towards achieving a bilateral trade target of US$200 billion by 2032.
The discussions also reviewed the contribution of the India-UAE Comprehensive Economic Partnership Agreement (CEPA), the Bilateral Investment Treaty and other bilateral arrangements to stronger economic engagement. The two sides examined the work of CEPA-related subcommittees and discussed measures to improve trade resilience amid changing global economic and geopolitical conditions.
Several ongoing and proposed investment initiatives were also reviewed. These included the Food Park project in Gujarat and plans for the operationalisation of an Invest India office in the UAE before the end of 2026. The meeting also took note of major recent investment developments, including Emirates NBD’s approximately US$3 billion acquisition of a majority stake in RBL Bank and International Holding Company’s US$1 billion investment in Sammaan Capital.
The two countries further noted a joint investment intention of US$11.5 billion for establishing an integrated aluminium complex in Odisha. The opening of branch offices of Mashreq Bank, First Abu Dhabi Bank and Abu Dhabi National Insurance Company in GIFT City was also highlighted as an important development in financial-sector cooperation.
Energy cooperation was another key area of discussion. The delegations reviewed progress under memoranda of understanding signed during Prime Minister Narendra Modi’s UAE visit in May 2026. Future investment opportunities were discussed across sectors such as energy, infrastructure, industry, logistics, technology, artificial intelligence, space, food security and agricultural innovation.
Financial cooperation also received attention. The co-chairs reviewed initiatives being pursued by the central banks of India and the UAE concerning local-currency settlement, payment and messaging-system integration, and central-bank digital currencies. Both sides agreed to work towards the timely implementation of these initiatives, which are intended to facilitate smoother bilateral trade and investment transactions.
The meeting also explored opportunities to strengthen cooperation in the startup ecosystem and emerging technologies. Civil aviation was discussed with a focus on improving connectivity between India and Abu Dhabi. The two sides also examined investment opportunities linked to the development of an aviation and logistics hub at Dholera in Gujarat.
The UAE-India Fast Track Mechanism was reviewed as part of efforts to address outstanding issues affecting businesses and investments in both countries. Both sides agreed to continue working towards timely resolution of such matters.
Speaking at the meeting, Piyush Goyal said the UAE remains a trusted partner in India’s pursuit of inclusive, sustainable and resilient growth. He highlighted the progress achieved through cooperation in investment and innovation and said the partnership has significant potential for further transformation.
Sheikh Hamed bin Zayed Al Nahyan said the Joint Task Force has, since its establishment, provided a platform for dialogue, problem-solving and advancing shared economic priorities. He noted that the mechanism has supported investors, addressed challenges and helped identify new areas of cooperation.
The 14th HLJTFI meeting reaffirmed India’s and the UAE’s continued efforts to deepen investment cooperation and build stronger economic linkages across traditional and emerging sectors.
Author: Shivam
Proficient Writer Contact: [email protected]
