India, UAE Deepen Economic Ties at High-Level Joint Task Force on Investments

The latest meeting of the India-UAE High Level Joint Task Force on Investments, co-chaired by His Highness Sheikh Hamed bin Zayed Al Nahyan, Managing Director of the Abu Dhabi Investment Authority (ADIA), and Shri Piyush Goyal, Minister of Commerce & Industry, Government of India, marked another milestone in the two nations’ fast-growing economic partnership.

The meeting brought together senior government officials, investment entities, and business leaders from both countries, reflecting the strategic weight of the bilateral relationship.

Strengthening Bilateral Trade Post-CEPA

The Joint Task Force reviewed the remarkable progress achieved since the implementation of the India-UAE Comprehensive Economic Partnership Agreement (CEPA) in May 2022. CEPA has become the cornerstone of bilateral trade, opening up market access, fostering private sector collaboration, and creating a framework for sustainable growth.

• In the first half of 2025, non-oil bilateral trade reached US$38 billion, up 34% compared to 2024, a significant leap towards the UAE’s 2030 trade targets.

• Both sides reaffirmed their commitment to using CEPA as a model for inclusive and mutually beneficial trade partnerships in an increasingly complex global economic environment.

Landmark Joint Projects Under Review

The Task Force examined the progress of Bharat Mart, a 2.7 million square foot complex being developed in the Jebel Ali Free Zone, UAE, which will serve as a showcase hub for Indian manufacturers and exporters to connect with global markets. The project was hailed as a symbol of economic synergy, strengthening supply chain integration between the two countries.

Additionally, new areas of cooperation were explored, including:

• Maritime infrastructure development to boost connectivity and trade efficiency.

• Space sector collaboration, leveraging India’s ISRO expertise and the UAE’s growing space ambitions.

Financial Sector Integration and Digital Innovation

The meeting highlighted ongoing initiatives between the Central Banks of India and the UAE, including:

• Trade settlement in local currencies to reduce dependency on third-country currencies.

• Integration of payment systems, ensuring smoother cross-border transactions.

• Cooperation on Central Bank Digital Currencies (CBDCs), with both sides commending strong progress and pledging early finalisation of implementation frameworks.

These steps are expected to significantly ease bilateral investment flows and create new avenues for fintech cooperation.

Addressing Investor Concerns

In line with its mandate, the Joint Task Force also addressed challenges faced by investors in both markets. The Co-Chairs directed their teams to work closely with relevant government entities to resolve issues in a timely and mutually acceptable manner, ensuring investor confidence remains strong.

Statements from the Co-Chairs

At the conclusion, HH Sheikh Hamed bin Zayed Al Nahyan emphasized:

“The trade and investment relationship between the UAE and India continues to grow at an impressive rate, anchored by the dual principles of shared goals and joint success. Today’s Joint Task Force meeting included positive progress updates on a number of important initiatives and also raised new areas for future cooperation.”

Shri Piyush Goyal reiterated India’s vision of inclusive growth, saying:

“India has been on a remarkable journey as the world’s fastest growing large economy and is committed to inclusive, sustainable, and resilient growth. UAE is an important partner in India’s growth story. The partnership stands on the pillars of innovation, investment, and sustainable development, and it will witness great transformation under the visionary leadership of both sides.”

A Decade-Long Platform for Cooperation

Established in 2013, the India-UAE Joint Task Force on Investments has become a vital platform for dialogue, problem-solving, and partnership-building. Over the past decade, it has helped to resolve investor concerns, unlock opportunities, and expand cooperation across multiple sectors.

As both nations look ahead, the forum is expected to play a critical role in expanding trade, deepening investment flows, and forging strategic collaborations that align with the broader vision of India-UAE Comprehensive Strategic Partnership.