The 14th meeting of the India-UAE High Level Joint Task Force on Investments took place in Mumbai, co-chaired by Piyush Goyal, Minister of Commerce and Industry, Government of India, and His Highness Sheikh Hamed bin Zayed Al Nahyan, Managing Director of Abu Dhabi Investment Authority. The two sides reviewed progress under the Comprehensive Economic Partnership Agreement (CEPA) signed between the countries and discussed expanding bilateral investment flows across energy, infrastructure, technology and artificial intelligence.
Key facts
- Bilateral trade reached US$101.25 billion in FY 2025-26; non-oil trade reached US$76.2 billion in 2025
- Joint target: US$200 billion in bilateral trade by 2032
- Emirates NBD acquisition of majority stake in RBL Bank valued at approximately US$3 billion
- International Holding Company investment in Sammaan Capital valued at US$1 billion
- Joint investment intent of US$11.5 billion for an integrated aluminium complex in Odisha
- Mashreq Bank, First Abu Dhabi Bank and Abu Dhabi National Insurance Company have opened branch offices in GIFT City, India
- Invest India office expected to open in the UAE before the end of 2026
- HLJTFI was established in 2013
What the CEPA agreement covers
The Comprehensive Economic Partnership Agreement between India and the UAE is a trade agreement designed to reduce tariffs and simplify business procedures between the two countries. Both sides reviewed the progress of CEPA’s relevant subcommittees during the meeting and discussed ways to strengthen trade resilience in a complex geopolitical and economic environment. The agreement has already contributed to strong growth in bilateral trade and continues to serve as a framework for expanding commercial ties.
Joint investment projects and sectors
The Joint Task Force reviewed several ongoing collaboration initiatives. A Food Park project in Gujarat is under development. In addition, the two countries are pursuing a major joint venture to establish an integrated aluminium complex in Odisha, with a combined investment intent of US$11.5 billion. Both sides also acknowledged significant individual investments from UAE companies into Indian financial institutions and fintech platforms, signalling confidence in India’s growth trajectory.
Financial sector cooperation
India and the UAE are working on multiple financial initiatives to make bilateral trade and investment more efficient. These include local-currency settlement arrangements, integration of payment and messaging systems, and exploration of central-bank digital currencies. The central banks of both countries are leading these efforts, which aim to reduce reliance on third-country currencies and make cross-border transactions faster and cheaper.
Future areas of cooperation
The delegations identified several sectors for increased investment flows, including energy, industry, logistics, infrastructure, technology and artificial intelligence, space, food security and agricultural innovation. Both sides also discussed collaboration in the startup ecosystem. Civil-aviation cooperation was discussed with the aim of enhancing air connectivity. Investment opportunities in developing an aviation and logistics hub in Dholera in Gujarat were also explored.
Investment dispute resolution
Since its establishment in 2013, the HLJTFI has served as a mechanism for raising and resolving investment-related concerns between the two countries. The two sides noted the efforts undertaken through the UAE-India Fast Track Mechanism to resolve outstanding issues affecting investments and companies of both nations, and agreed to support their timely resolution.
What this means for you
Indian investors looking to expand into the UAE will benefit from improved financial linkages and a dedicated Invest India office opening in the UAE before the end of 2026. Businesses in the aluminium, food processing, aviation and logistics sectors may find new partnership and investment opportunities. Indian financial companies, startups and technology firms could gain better access to UAE capital and joint venture partners. Consumers may eventually benefit from lower trade costs if the financial and payment system integrations reduce friction in cross-border commerce.