14th India-UAE Joint Task Force on Investments Meets in Mumbai

The fourteenth meeting of the India-UAE High Level Joint Task Force on Investments (HLJTFI) was held in Mumbai. It was co-chaired by Shri Piyush Goyal, Union Minister of Commerce and Industry, and His Highness Sheikh Hamed bin Zayed Al Nahyan, Managing Director of the Abu Dhabi Investment Authority (ADIA).

What the Task Force is

The HLJTFI was set up in 2013 to build trade, investment and economic ties between the two countries. It doubles as a forum where investors from either side can raise problems and have them settled. Recent high-level visits gave it fresh direction: the Prime Minister travelled to the UAE in May 2026, and the Crown Prince of Abu Dhabi, His Highness Sheikh Khaled bin Mohammed bin Zayed Al Nahyan, came to India in September 2026.

Trade numbers on the table

Two-way trade touched US$ 101.25 billion in FY 2025-26, while non-oil trade stood at US$ 76.2 billion in 2025. Both sides are working towards a shared goal of US$ 200 billion in bilateral trade by 2032. The Comprehensive Economic Partnership Agreement (CEPA), the Bilateral Investment Treaty and agreements on taxation and mutual legal assistance were credited with that rise, and the subcommittees under CEPA were reviewed.

Investments reviewed

The co-chairs welcomed Emirates NBD's acquisition of a majority stake in RBL Bank for about US$ 3 billion and International Holding Company's US$ 1 billion investment in Sammaan Capital. They also noted an intent to invest US$ 11.5 billion jointly in an integrated aluminium complex in Odisha. Mashreq Bank, First Abu Dhabi Bank and the Abu Dhabi National Insurance Company have opened branch offices in GIFT City. A Food Park project in Gujarat was reviewed, and an Invest India office is expected to start in the UAE before the end of 2026.

Finance, aviation and new sectors

The two central banks reported progress on settlement in local currencies, on linking payment and messaging systems and on central bank digital currencies. Talks also covered civil aviation links between Abu Dhabi and India and an aviation and logistics hub at Dholera in Gujarat. Energy, industry, logistics, technology, artificial intelligence, space, food security, agricultural innovation and start-ups were listed as areas for deeper investment, and the UAE-India Fast Track Mechanism was used to settle pending investor issues.