India-UAE Joint Task Force Meeting

• High Level Joint Task Force on Investments: Established in 2013 to enhance economic ties between India and the UAE.

• Recent Meeting: Co-chaired by His Highness Sheikh Hamed bin Zayed Al Nahyan (ADIA) and Shri Piyush Goyal (India). Participants included senior officials and representatives from various ministries and organizations from both nations.

• Bilateral Economic Context:

  • India's economy is noted as the fastest growing large economy globally.
  • Post-implementation of the India-UAE Comprehensive Economic Partnership Agreement (CEPA) in May 2022, bilateral non-oil trade reached nearly US$38 billion in the first half of 2025, marking a 34% increase compared to the first half of 2024.
  • CEPA aims to facilitate market access and enhance private sector collaboration.

• Strategic Initiatives Considered:

  • Joint investment projects, including the Bharat Mart, a 2.7 million square feet complex in Jebal Ali Free Zone showcasing Indian manufacturers and exporters.
  • Future cooperation opportunities in the maritime and space sectors.
  • Strategic initiatives between the Central Banks of India and UAE for bilateral trade in local currencies and integration of payment systems were discussed; emphasis on cooperation on Central Bank Digital Currencies.

• Objectives and Responsibilities:

  • The Joint Task Force serves as a platform to promote investment opportunities and resolve challenges facing investors.
  • Commitment to work collaboratively with relevant government entities for timely problem resolution.

• Statements from Co-Chairs:

  • Sheikh Hamed emphasized the growing trade and investment relationship based on shared goals and successful initiatives.
  • Piyush Goyal highlighted the importance of sustainable growth and innovation in the partnership.

• International Cooperation: The meeting is a model for constructive cooperation amid a complex global trading environment.

This meeting identified significant momentum in economic collaboration and reiterated the commitment to expand the partnership through targeted initiatives and strategic cooperation.