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 between India and UAE reached US$101.25 billion in FY 2025-26, with non-oil trade specifically reaching US$76.2 billion in 2025. Both countries are working toward their shared ambition of achieving US$200 billion in bilateral trade by 2032. The meeting acknowledged the role of the Comprehensive Economic Partnership Agreement (CEPA), Bilateral Investment Treaty (BIT), and other agreements on taxation and mutual legal assistance in strengthening the bilateral relationship.
Investment Projects and Financial Sector Cooperation
The Task Force reviewed several joint investment projects, including a Food Park project in Gujarat. Significant financial transactions noted include Emirates NBD's approximately US$3 billion acquisition of a majority stake in RBL Bank of India, International Holding Company's (IHC) US$1 billion investment in Sammaan Capital of India, and a joint investment intent of US$11.5 billion for establishing an integrated aluminum complex in Odisha. The successful opening of branch offices by Mashreq Bank, First Abu Dhabi Bank (FAB), and Abu Dhabi National Insurance Company (ADNIC) in GIFT City, India, was also welcomed.
Financial-sector cooperation progress included initiatives between the Central Banks of the UAE and India on local-currency settlement, integration of payment and messaging systems, and central-bank digital currencies. These initiatives aim to make bilateral trade and investment more efficient, accessible, and resilient.
Expanded Cooperation Areas and Operational Developments
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 between Abu Dhabi and India was discussed to enhance air connectivity, including investment opportunities in developing an aviation and logistics hub in Dholera, Gujarat.
The Invest India office in the UAE is expected to be operational before the end of 2026. Energy cooperation under MoUs signed during Prime Minister Modi's visit to the UAE in May 2026 was reviewed. The UAE-India Fast Track Mechanism was acknowledged for resolving outstanding investment issues affecting companies in both countries.