14th India-UAE Joint Task Force on Investments Meets in Mumbai
Piyush Goyal and Sheikh Hamed bin Zayed Al Nahyan co-chaired the 14th India-UAE High Level Joint Task Force on Investments in Mumbai, reviewing CEPA progress.

Why in News
On 28 September 2026 Mumbai hosted the 14th meeting of the India-UAE High Level Joint Task Force on Investments, which reviewed CEPA progress, trade figures and joint investment projects.
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.
Important Facts
| Event | 14th India-UAE High Level Joint Task Force on Investments (HLJTFI) |
|---|---|
| Venue | Mumbai |
| Indian co-chair | Shri Piyush Goyal, Union Minister of Commerce & Industry |
| UAE co-chair | Sheikh Hamed bin Zayed Al Nahyan, Managing Director, ADIA |
| Established | 2013 |
| Bilateral trade | US$ 101.25 billion in FY 2025-26 |
| Non-oil trade | US$ 76.2 billion in 2025 |
| Trade target | US$ 200 billion by 2032 |
| Odisha project | US$ 11.5 billion joint investment intent in an integrated aluminium complex |
| Trade agreement | Comprehensive Economic Partnership Agreement (CEPA) |
Exam Point of View
Remember the edition (14th), the city (Mumbai), the two co-chairs and that the UAE co-chair heads ADIA, the year the Task Force was set up (2013), the trade figures of US$ 101.25 billion and US$ 76.2 billion, the US$ 200 billion target for 2032 and the Odisha aluminium project.
Practice Questions
The 14th meeting of the India-UAE High Level Joint Task Force on Investments was held in which city?
- A.New Delhi
- B.Abu Dhabi
- C.Mumbai
- D.Dubai
Show answer
Correct answer: C. Mumbai
Explanation
The correct answer is Mumbai, which hosted the fourteenth meeting of the Task Force, co-chaired by the Union Minister of Commerce and Industry and the Managing Director of the Abu Dhabi Investment Authority. New Delhi is wrong because although it hosts many bilateral meetings, this particular round was held in India's financial capital, a natural choice for a forum devoted to investment. Abu Dhabi is wrong because it is the seat of the investment authority whose Managing Director co-chaired the meeting, not the venue on this occasion. Dubai is wrong for the same reason; the Emirati participation came through the co-chair and officials, while the meeting itself took place on Indian soil, as did the review of joint investment projects such as the Food Park in Gujarat.
What is the bilateral trade target that India and the UAE are working towards by 2032?
- A.US$ 100 billion
- B.US$ 150 billion
- C.US$ 200 billion
- D.US$ 250 billion
Show answer
Correct answer: C. US$ 200 billion
Explanation
The correct answer is US$ 200 billion, the shared ambition the two countries have set for bilateral trade by the year 2032. The option of a hundred billion dollars is wrong because trade has already crossed that mark: it reached US$ 101.25 billion in the financial year 2025-26, so a target at that level would be meaningless. The option of a hundred and fifty billion dollars is wrong because no such intermediate goal was announced at the meeting. The option of two hundred and fifty billion dollars is wrong because it overstates the figure agreed between the two sides. Non-oil trade, a separate measure, stood at US$ 76.2 billion in 2025, and the growth in both measures was credited to the Comprehensive Economic Partnership Agreement.
The joint investment intent of US$ 11.5 billion noted at the meeting relates to an integrated aluminium complex in which Indian state?
- A.Gujarat
- B.Odisha
- C.Jharkhand
- D.Chhattisgarh
Show answer
Correct answer: B. Odisha
Explanation
The correct answer is Odisha, where a joint investment intent of US$ 11.5 billion has been recorded for an integrated aluminium complex. Gujarat is wrong, although the state does figure in the meeting in two other ways: a Food Park project was reviewed there, and an aviation and logistics hub at Dholera was explored, while Mashreq Bank, First Abu Dhabi Bank and the Abu Dhabi National Insurance Company have opened offices in GIFT City. Jharkhand is wrong because no project in that state was listed among the investments reviewed. Chhattisgarh is wrong for the same reason. The other investments named were Emirates NBD's majority stake in RBL Bank and International Holding Company's stake in Sammaan Capital. The Task Force has functioned since its establishment as an open mechanism for raising and settling investment concerns, and the two sides also used the Fast Track Mechanism to resolve pending issues affecting companies on either side.
Frequently Asked Questions
Who co-chaired the 14th India-UAE Joint Task Force meeting?
Union Commerce and Industry Minister Piyush Goyal and Sheikh Hamed bin Zayed Al Nahyan, Managing Director of the Abu Dhabi Investment Authority, co-chaired the meeting in Mumbai.
What is the India-UAE bilateral trade target?
The two countries are working towards US$ 200 billion in bilateral trade by 2032. Trade stood at US$ 101.25 billion in FY 2025-26, with non-oil trade at US$ 76.2 billion in 2025.
When was the India-UAE Joint Task Force on Investments set up?
It was established in 2013 to promote trade, investment and economic ties, and to act as a forum for resolving issues faced by investors of the two countries.
Sources
- 14th India-UAE High Level Joint Task Force Meeting Held in Mumbai (opens in a new tab) — Press Information Bureau
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