India-UAE Investment Talks Focus on Trade, New Growth Areas

• India-UAE trade reaches US$101.25 billion in FY 2025-26.
• Joint Task Force reviews CEPA and investment projects.
• US$11.5 billion aluminium complex planned in Odisha.
• Both sides explore AI, space, energy and logistics cooperation.

GG News Bureau
Mumbai, 28th Sept: The 14th Meeting of the India-UAE High Level Joint Task Force on Investments (HLJTFI) was held in Mumbai on Monday, with both sides reviewing progress under the Comprehensive Economic Partnership Agreement (CEPA), ongoing investment projects and new opportunities across emerging sectors.

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 mechanism for promoting trade, investment and economic ties between India and the UAE, while also addressing issues faced by investors from both countries.

The meeting reviewed the growing scale of the bilateral economic relationship. Bilateral trade reached US$101.25 billion in FY 2025-26, while non-oil trade stood at US$76.2 billion in 2025. The two countries are working towards a shared target of US$200 billion in bilateral trade by 2032.

The co-chairs reviewed the progress of CEPA-related subcommittees and discussed measures to strengthen trade resilience amid an increasingly complex global economic and geopolitical environment. The role of the Bilateral Investment Treaty (BIT) and other agreements covering taxation and mutual legal assistance was also discussed.

Investment Projects and New Areas of Cooperation
The Joint Task Force reviewed progress on several joint investment initiatives, including the Food Park project in Gujarat. The two sides also noted the expected operationalisation of the Invest India office in the UAE before the end of 2026.

The meeting took note of recent UAE investments in India, 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 sides also discussed a joint investment intent of US$11.5 billion for establishing an integrated aluminium complex in Odisha.

The meeting further noted the opening of branch offices of Mashreq Bank, First Abu Dhabi Bank and Abu Dhabi National Insurance Company in Gujarat International Finance Tec-City (GIFT City).

Energy cooperation under memoranda of understanding signed during Prime Minister Narendra Modi’s visit to the UAE in May 2026 was also reviewed.

The delegations identified several areas with potential to increase two-way investments, including energy, industry, logistics, infrastructure, technology, artificial intelligence, space, food security, agricultural innovation and start-ups.

Financial Sector Cooperation
Financial-sector cooperation remained an important part of the discussions. The two sides reviewed progress by the central banks of India and the UAE on local-currency settlement, integration of payment and messaging systems, and central-bank digital currencies.

According to the meeting, these initiatives could help make bilateral trade and investment more efficient, accessible and resilient. Both sides agreed to take steps towards their timely implementation.

Aviation and Logistics Cooperation
Civil aviation cooperation between Abu Dhabi and India was also discussed, with the objective of strengthening air connectivity in support of broader economic ties.

The two sides also explored investment opportunities and cooperation in developing an aviation and logistics hub at Dholera in Gujarat.

The meeting also reviewed the UAE-India Fast Track Mechanism, which is aimed at addressing outstanding issues affecting UAE investments and companies in India as well as Indian investments and companies in the UAE.

Goyal Highlights Future Partnership
Piyush Goyal said the UAE remained an important partner for India’s growth and highlighted investment, innovation and security as areas that would shape the next phase of bilateral cooperation.

“The UAE is a trusted friend and partner in this journey,” Goyal said, adding that the Joint Task Force meeting had reviewed progress across multiple initiatives and explored future avenues of cooperation.

He said the partnership was poised for significant transformation under the leadership of both countries.

Sheikh Hamed bin Zayed Al Nahyan said the meeting came at an important stage in the longstanding India-UAE relationship. He noted that since its establishment in 2013, the Joint Task Force had provided a platform for dialogue, problem-solving and advancing shared economic priorities.

He said the mechanism had supported investors, addressed challenges and helped identify new opportunities for cooperation.

The two sides also acknowledged the contribution of ambassadors, officials and technical teams to the functioning of the Joint Task Force.