India and UAE Hold 14th High Level Joint Task Force on Investments Meeting in Mumbai

Key facts

• The 14th Meeting of the India-UAE High Level Joint Task Force on Investments (HLJTFI) was held in Mumbai, co-chaired by Commerce & Industry Minister Piyush Goyal and Sheikh Hamed bin Zayed Al Nahyan, Managing Director of Abu Dhabi Investment Authority (ADIA).
• The HLJTFI was established in 2013 to promote trade, investment and economic ties between India and the UAE.
• Bilateral trade reached US$101.25 billion in FY 2025-26, non-oil trade reached US$76.2 billion in 2025, and both countries target US$200 billion in bilateral trade by 2032.
• Emirates NBD acquired a majority stake in RBL Bank for approximately USD 3 billion, International Holding Company (IHC) invested USD 1 billion in Sammaan Capital, and a joint investment intent of USD 11.5 billion was announced for an integrated aluminium complex in Odisha.
• Mashreq Bank, First Abu Dhabi Bank (FAB) and Abu Dhabi National Insurance Company (ADNIC) opened branch offices in GIFT City, and the Invest India office in the UAE is expected to be operationalized before the end of 2026.
• The central banks of India and the UAE are working on local-currency settlement, integration of payment and messaging systems, and central bank digital currencies.
• Areas identified to increase two-way investment flows include energy, industry, logistics, infrastructure, technology, artificial intelligence, space, food security, agricultural innovation and the startup ecosystem.
• The Joint Task Force reviewed progress on the Food Park project in Gujarat, and investment opportunities in developing an aviation and logistics hub in Dholera, Gujarat were explored.