India and the United Arab Emirates (UAE) have reviewed the progress of their Comprehensive Economic Partnership Agreement (CEPA) and advanced several joint investment projects during the 14th meeting of the India-UAE high-level joint task force on investments. The meeting, held in Mumbai, was co-chaired by Union Minister of Commerce and Industry Piyush Goyal and Managing Director of the Abu Dhabi Investment Authority Sheikh Hamed bin Zayed Al Nahyan.
The meeting examined the work of relevant subcommittees under the trade pact and addressed measures to expand bilateral investment flows across emerging sectors. Both sides aim for a bilateral trade target of USD 200 billion by 2032. According to the Ministry of Commerce and Industry, bilateral trade reached USD 101.25 billion in the 2025-26 financial year, with non-oil commerce touching USD 76.2 billion in 2025.
The discussions followed high-level engagements, including Prime Minister Narendra Modi's visit to the UAE in May 2026 and the visit of Crown Prince of Abu Dhabi Sheikh Khaled bin Mohammed bin Zayed Al Nahyan to India in September 2026. These interactions have strengthened the partnership between the two nations.
Commerce and Industry Minister Piyush Goyal stated that India remains committed to inclusive, sustainable, and resilient growth. He noted that the UAE is a trusted friend and partner in this journey. The Joint Task Force meeting showcased positive progress under many initiatives and deliberated on future avenues of cooperation.
Co-chair Sheikh Hamed bin Zayed Al Nahyan said the meeting comes at an important moment in the longstanding and growing partnership between the UAE and India. He noted that the Joint Task Force has served as a valuable platform for candid dialogue, practical problem-solving, and the advancement of shared economic priorities since its establishment in 2013.
The Joint Task Force reviewed multiple joint initiatives, such as the Food Park project in Gujarat and the planned operationalisation of an Invest India office in the UAE, before the close of 2026. Both sides also welcomed several significant investments, including Emirates NBD's acquisition of a majority stake in RBL Bank for approximately USD 3 billion.
The delegations evaluated central bank collaboration on local-currency settlement, payment messaging systems, and digital currencies, as well as aviation connectivity and logistics hub opportunities in Dholera. They utilised the bilateral Fast Track Mechanism to address investor concerns and expedite cooperation.
Key points
- India and UAE aim for a bilateral trade target of USD 200 billion by 2032.
- Bilateral trade reached USD 101.25 billion in the 2025-26 financial year.
- The UAE is a trusted friend and partner of India, as stated by Commerce and Industry Minister Piyush Goyal.
