Indian Economy News

14th India-UAE High Level Joint Task Force Meeting Reviews Trade and Investment Cooperation

The 14th Meeting of the India-UAE High Level Joint Task Force on Investments (HLJTFI) was held in Mumbai on September 28, 2026, co-chaired by Union Minister for Commerce and Industry, Mr. Piyush Goyal, and Managing Director of Abu Dhabi Investment Authority (ADIA), His Highness Sheikh Hamed bin Zayed Al Nahyan. Established in 2013, the HLJTFI serves as a platform to strengthen trade and investment ties and address issues faced by investors in both countries. Bilateral trade reached Rs. 9.61 lakh crore (US$ 101.25 billion) in FY26, while non-oil trade stood at Rs. 6.64 lakh crore (US$ 76.18 billion) in 2025. The two sides reviewed progress under the Comprehensive Economic Partnership Agreement (CEPA), Bilateral Investment Treaty (BIT) and other agreements, while reaffirming their shared ambition of reaching Rs. 18.99 lakh crore (US$ 200 billion) in bilateral trade by 2032.

The meeting reviewed joint investment projects and emerging areas of cooperation, including energy, infrastructure, technology, artificial intelligence, logistics, space, food security, agricultural innovation and startups. The two sides welcomed recent UAE investments, including Emirates NBD's approximately Rs. 28,491 crore (US$ 3 billion) acquisition of a majority stake in RBL Bank and International Holding Company's Rs. 9,497 crore (US$ 1 billion) investment in Sammaan Capital. They also noted a Rs. 1.09 lakh crore (US$ 11.5 billion) joint investment intent for an integrated aluminium complex in Odisha and the expected operationalisation of the Invest India office in the UAE before the end of 2026. Financial-sector cooperation covering local-currency settlement, payment and messaging systems and central bank digital currencies was also reviewed. Discussions further covered civil aviation connectivity between Abu Dhabi and India and opportunities to develop an aviation and logistics hub in Dholera, Gujarat. The UAE-India Fast Track Mechanism was also reviewed to address outstanding investment-related issues.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.