India and UAE Strengthen Economic Partnership at High-Level Investment Forum
The 14th meeting of the India-UAE High Level Joint Task Force on Investments convened in Mumbai, reviewing record bilateral trade figures and ambitious plans to deepen cooperation across multiple sectors.
The 14th Meeting of the India-UAE High Level Joint Task Force on Investments took place in Mumbai on 28th September 2026, bringing together H.H. Sheikh Hamed bin Zayed Al Nahyan, Managing Director of Abu Dhabi Investment Authority, and Shri Piyush Goyal, Minister of Commerce & Industry of India.
Established in 2013, the Joint Task Force has evolved into a cornerstone mechanism for fostering bilateral trade, investment and economic collaboration. Since its inception, it has provided a platform for substantive dialogue and the resolution of investment-related challenges affecting both nations.
The meeting reflected the momentum generated by recent high-level visits, including Prime Minister Modi’s visit to the UAE in May 2026 and the Crown Prince of Abu Dhabi’s visit to India in September 2026. These exchanges have reinforced the strategic direction of the partnership and underscored its growing importance to both economies.
Record Trade Growth and Ambitious Targets
Bilateral trade reached US$101.25 billion in FY 2025-26, with non-oil trade accounting for US$76.2 billion in 2025, demonstrating the robustness of commercial ties. The Comprehensive Economic Partnership Agreement and related frameworks have been instrumental in achieving this growth. The two nations are working towards an ambitious target of US$200 billion in bilateral trade by 2032.
During the meeting, both sides reviewed significant investment developments, including Emirates NBD’s approximately US$3 billion acquisition of a majority stake in RBL Bank of India, and International Holding Company’s US$1 billion investment in Sammaan Capital. A joint investment intent of US$11.5 billion for an integrated aluminium complex in Odisha was also noted with considerable enthusiasm.
Expanding Sectors and Infrastructure
The meeting addressed collaboration across energy, infrastructure, technology and artificial intelligence—sectors identified as critical to future growth. The Joint Task Force reviewed progress on joint investment projects, including the Food Park initiative in Gujarat and the anticipated operationalisation of the Invest India office in the UAE before the end of 2026.
The opening of branch offices by Mashreq Bank, First Abu Dhabi Bank and Abu Dhabi National Insurance Company in GIFT City in India represents a tangible expansion of financial-sector cooperation. Additional opportunities under discussion include closer partnership in logistics, space exploration, food security and agricultural innovation.
Financial Innovation and Connectivity
Central bank cooperation has progressed significantly, with initiatives underway relating to local-currency settlement and the integration of payment systems. Digital currency frameworks are also being explored to enhance the efficiency and resilience of bilateral trade and investment.
Civil-aviation cooperation featured prominently in discussions, with exploration of investment opportunities in developing an aviation and logistics hub in Dholera, Gujarat, aimed at strengthening air connectivity to support the broader economic relationship.
The two sides reaffirmed their commitment to the UAE–India Fast Track Mechanism, which has successfully addressed outstanding issues affecting investors from both nations. Both delegations emphasised their dedication to resolving remaining concerns through collaborative effort.
Source: WAM