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The 14th meeting of the India-UAE High Level Joint Task Force on Investments took place in Mumbai on September 28, according to a dispatch from the Emirates News Agency. Piyush Goyal, India’s minister of commerce and industry, co-chaired the session with His Highness Sheikh Hamed bin Zayed Al Nahyan, managing director of the Abu Dhabi Investment Authority. The task force, established in 2013, addressed priorities including expansion of bilateral investment flows and identification of emerging collaboration areas while assessing progress on multiple ongoing initiatives.
Bilateral trade reached $101.25 billion in fiscal 2025-26, the joint task force reported, with non-oil trade hitting $76.2 billion in 2025. The two sides are working toward a $200 billion overall trade target by 2032, building on gains since the Comprehensive Economic Partnership Agreement entered into force in May 2022. A Ministry of Commerce and Industry assessment placed the UAE among India’s top foreign direct investment sources, with roughly $25 billion already deployed and signals of an additional $25 billion forthcoming.
The meeting welcomed several concrete investment steps, according to the Emirates News Agency summary. These included Emirates NBD’s approximately $3 billion acquisition of a majority stake in RBL Bank and International Holding Company’s $1 billion investment in Sammaan Capital. Participants also noted a $11.5 billion joint intent to build an integrated aluminium complex in Odisha and the planned operationalisation of an Invest India office in the UAE before the end of 2026.
Piyush Goyal stated that India remains committed to inclusive, sustainable and resilient growth as the world’s fastest-growing large economy. The minister added that the UAE is a trusted friend and partner in this journey and that the Joint Task Force meeting had showcased positive progress under many initiatives while deliberating on future avenues of cooperation. Goyal further noted that the partnership rests on pillars of collaboration in investment, innovation, development and security of people.
His Highness Sheikh Hamed bin Zayed Al Nahyan said this meeting comes at an important moment in the longstanding and growing partnership between the UAE and India. The ADIA managing director observed that since its establishment in 2013 the Joint Task Force has served as a valuable platform for candid dialogue, practical problem-solving and advancement of shared economic priorities. Al Nahyan added that the task force has helped bring the two countries closer by supporting investors, addressing challenges and identifying new opportunities for cooperation.
The Comprehensive Economic Partnership Agreement has driven diversification across sectors such as energy, infrastructure, technology and food processing, according to successive ministry reviews since 2022. Earlier task force sessions laid groundwork for initiatives including local currency trade settlement and virtual trade corridors. The current meeting built on that foundation by focusing on supply chain resilience and emerging fields including artificial intelligence.
