Mumbai: The 14th meeting of the India-UAE High-Level Joint Task Force on Investments (HLJTFI) was held in Mumbai on September 28. The meeting was co-chaired by Commerce and Industry Minister Piyush Goyal and Sheikh Hamed bin Zayed Al Nahyan, Managing Director of the Abu Dhabi Investment Authority.
Both sides reviewed the flow of mutual investments, ongoing projects, and new areas of cooperation such as energy, artificial intelligence, logistics, food security, infrastructure, technology, and the startup ecosystem. They also discussed measures to strengthen trade and investment ties amid changing global economic conditions.
Bilateral trade between India and the UAE stood at USD 101.25 billion in the 2025-26 fiscal year, while non-oil trade reached USD 76.2 billion in 2025.
Both nations are working towards achieving a shared target of USD 200 billion in bilateral trade by 2032, and the ‘Comprehensive Economic Partnership Agreement’ (CEPA) is helping to further strengthen trade ties.
India, UAE Review Major Investment Projects
The meeting reviewed the progress of several investment initiatives, including the food park project in Gujarat. It also welcomed recent major investments by the UAE in India, such as Emirates NBD’s acquisition of a significant stake in RBL Bank (valued at approximately USD 3 billion), IHC’s USD 1 billion investment in Sammaan Capital, and the proposed USD 11.5 billion integrated aluminium complex in Odisha.
The two countries also discussed ways to strengthen financial cooperation, including local-currency payments, linking payment systems and central bank digital currencies.
They also explored ways to improve air connectivity between India and Abu Dhabi and discussed opportunities to develop an aviation and logistics hub in Dholera, Gujarat.
The meeting concluded with both sides reaffirming their commitment to strengthening investment ties and addressing issues faced by businesses and investors in India and the UAE through the UAE-India Fast Track Mechanism.
(PIB)
