India and the UAE reviewed progress on bilateral investment and trade cooperation at the 14th High Level Joint Task Force on Investments in Mumbai. Both sides discussed expanding collaboration across infrastructure, energy, logistics, technology, aviation and financial services while reaffirming their commitment to achieving US$200 billion in bilateral trade by 2032.
India and the United Arab Emirates (UAE) held the 14th Meeting of the India-UAE High Level Joint Task Force on Investments (HLJTFI) in Mumbai, co-chaired by Shri Piyush Goyal, Minister of Commerce & Industry, and His Highness Sheikh Hamed bin Zayed Al Nahyan, Managing Director of Abu Dhabi Investment Authority (ADIA).
Established in 2013, the HLJTFI serves as a platform to strengthen bilateral trade, investment and economic cooperation while addressing investment-related issues between the two countries. The meeting reviewed progress under the India-UAE Comprehensive Economic Partnership Agreement (CEPA), the Bilateral Investment Treaty (BIT) and other frameworks supporting economic collaboration.
Both sides noted that bilateral trade reached US$101.25 billion in FY 2025–26, with non-oil trade touching US$76.2 billion in 2025, and reaffirmed their shared objective of achieving US$200 billion in bilateral trade by 2032. Discussions focused on enhancing investment flows across sectors including energy, infrastructure, logistics, technology, artificial intelligence, food security, agriculture and the startup ecosystem.
The Joint Task Force reviewed the progress of key investment projects, including the Food Park project in Gujarat, the proposed operationalisation of Invest India’s UAE office before the end of 2026, and recent investments such as Emirates NBD’s acquisition of a majority stake in RBL Bank, International Holding Company’s investment in Sammaan Capital, and the proposed US$11.5 billion integrated aluminium complex in Odisha. The meeting also acknowledged the establishment of Mashreq Bank, First Abu Dhabi Bank (FAB) and Abu Dhabi National Insurance Company (ADNIC) branches in GIFT City.
The two sides reviewed cooperation in financial services, including progress on local currency settlement, payment system integration and central bank digital currencies (CBDCs). They also discussed strengthening civil aviation links and explored opportunities to develop an aviation and logistics hub at Dholera, Gujarat.
Speaking at the meeting, Shri Piyush Goyal said the UAE remains one of India’s trusted economic partners and that the bilateral relationship is poised for further growth through investment, innovation and strategic cooperation. His Highness Sheikh Hamed bin Zayed Al Nahyan said the Joint Task Force has played a significant role in supporting investors, resolving challenges and identifying new opportunities for collaboration since its establishment.
Source: Press Information Bureau
