14th India-UAE High Level Joint Task Force Meeting Review
The 14th Meeting of the India-UAE High Level Joint Task Force on Investments (HLJTFI) was held in Mumbai, co-chaired by Shri Piyush Goyal, Minister of Commerce & Industry, Government of India, and His Highness Sheikh Hamed bin Zayed Al Nahyan, Managing Director of Abu Dhabi Investment Authority (ADIA). The HLJTFI, established in 2013, serves as a mechanism to promote trade, investment, and economic ties between India and the UAE while resolving investor issues.
Bilateral trade reached US$101.25 billion in FY 2025-26, with non-oil trade reaching US$76.2 billion in 2025, reflecting the strength of commercial ties and the impact of the Comprehensive Economic Partnership Agreement (CEPA). Both countries are working toward a shared ambition of US$200 billion in bilateral trade by 2032.
Key Investment Projects and Progress
The meeting reviewed several joint investment projects, including a Food Park project in Gujarat. Significant financial sector developments included Emirates NBD's approximately USD 3 billion acquisition of a majority stake in RBL Bank of India, and International Holding Company (IHC) USD 1 billion investment in Sammaan Capital of India. A joint investment intent of USD 11.5 billion was noted for establishing an integrated aluminum complex in Odisha. The successful opening of Mashreq Bank, First Abu Dhabi Bank (FAB), and Abu Dhabi National Insurance Company (ADNIC) branch offices in GIFT City, India, was also welcomed.
Financial and Economic Cooperation
Financial-sector cooperation remains a pillar of the UAE-India economic partnership. The Central Banks of the UAE and India are progressing on initiatives relating to local-currency settlement, integration of payment and messaging systems, and central-bank digital currencies, which are expected to make bilateral trade and investment more efficient and resilient. The Invest India office in the UAE is expected to be operational before the end of 2026.
Expanded Collaboration Areas
The delegations explored increased two-way investment flows in energy, industry, logistics, infrastructure, technology, artificial intelligence, space, food security, agricultural innovation, and the startup ecosystem. Civil-aviation cooperation was discussed to enhance air connectivity, with specific focus on investment opportunities in developing an aviation and logistics hub in Dholera, Gujarat.
Dispute Resolution and Future Outlook
The UAE–India Fast Track Mechanism continues to resolve outstanding issues affecting investments and companies in both countries. Both sides acknowledged the strategic importance of the partnership, with Minister Goyal emphasizing India's commitment to inclusive, sustainable growth and the UAE's role as a trusted partner. Sheikh Hamed highlighted the Joint Task Force's role in practical problem-solving and advancing shared economic priorities.