Bilateral trade between India and UAE reached 101.25 billion dollars in the financial year 2025-26, while non-oil trade stood at 76.2 billion dollars in 2025. The two sides are working towards their shared target of 200 billion dollars in bilateral trade by 2032.
AMN / MUMBAI
Commerce and Industry Minister Piyush Goyal on Monday informed that the United Arab Emirates is looking to invest an additional USD 25 billion in India in the near future, while the two countries are working to double bilateral trade to USD 200 billion by 2032,
Addressing the media after the 14th meeting of the India-UAE High Level Joint Task Force on Investments (HLJTFI) in Mumbai, Goyal, Co-Chair of the HLJTFI, said, “As the world’s fastest-growing large economy, India remains committed to inclusive, sustainable and resilient growth. The UAE is a trusted friend and partner in this journey. Today’s Joint Task Force meeting showcased positive progress under many initiatives and deliberated on future avenues of cooperation. Grounded in collaboration in investment, innovation development and security of our people, this partnership is poised for significant transformation under the visionary leadership of both sides.”
The meet was co-chaired by Sheikh Hamed bin Zayed Al Nahyan, Managing Director of the Abu Dhabi Investment Authority (ADIA). Discussions focused on accelerating the economic partnership and leveraging the CEPA framework to expand investment and build resilient supply chains.
The HLJTFI was established in 2013 to promote trade, investment and economic ties between India and the UAE and serves as a mechanism for discussing investment opportunities and resolving issues faced by investors from both countries.
The meeting reviewed the progress of the India-UAE Comprehensive Economic Partnership Agreement (CEPA), ongoing joint investment projects and opportunities for expanding two-way investment flows. The two sides also discussed ways to strengthen trade resilience amid an increasingly complex geopolitical and economic environment.
Bilateral trade reached USD 101.25 billion in FY 2025-26, while non-oil trade stood at USD 76.2 billion in 2025. India and the UAE are working towards their shared target of increasing bilateral trade to USD 200 billion by 2032.
Goyal said the UAE has already invested around USD 25 billion in India and is the country’s seventh-largest source of foreign direct investment. The two sides are working towards an eventual UAE investment target of USD 100 billion in India, with another USD 25 billion in investment intent expected in the near future.
The minister said the UAE is exploring opportunities in sectors including ports, shipbuilding, space, startups and India’s stock market, while India continues to offer opportunities across energy, infrastructure, logistics, advanced technology, artificial intelligence and food security.
Against this positive backdrop, the co-chairs opened the meeting by acknowledging the rise in trade between the UAE and India, and the role the CEPA, the Bilateral Investment Treaty (BIT) and other agreements on taxation, mutual legal assistance have played in further strengthening the bilateral relationship. The two sides reviewed the work of CEPA’s relevant subcommittees, discussed ways to further strengthen trade resilience in an increasingly complex geopolitical and economic environment.
The Joint Task Force reviewed the positive progress of several joint investment projects and areas of collaboration, including the Food Park project in Gujarat. Both sides noted the expected operationalization of Invest India office in the UAE before the end of 2026. They welcomed recent Emirates NBD’s approximately USD 3 billion acquisition of a majority stake in RBL Bank of India, and International Holding Company (IHC) USD 1 billion in Sammaan Capital of India, as well as a joint investment intent of USD 11.5 billion in the establishment of integrated Aluminuim complex in Odisha. They also noted the successful opening of Mashreq Bank, First Abu Dhabi Bank (FAB) and Abu Dhabi National Insurance Company (ADNIC) branch offices in GIFT City in India. The two sides also reviewed energy cooperation under the MoUs signed during Hon’ble Prime Minister Modi’s visit to UAE in May 2026. Given the wide range and depth of mutual investments, this truly stands as a multifaceted partnership between the two countries.
Financial-sector cooperation remains an important pillar of the UAE-India economic partnership. The Co-Chairs reviewed the progress made by the Central Banks of the UAE and India on initiatives relating to local-currency settlement, the integration of payment and messaging systems, and central-bank digital currencies. It was noted that these initiatives have the potential to make bilateral trade and investment more efficient, accessible and resilient. The two sides agreed to take steps to work together to support their timely implementation.
The delegations considered areas with the potential to increase two-way investment flows, including closer cooperation in energy, industry, logistics, infrastructure, technology and artificial intelligence, space, food security, agricultural innovation and working together in the startup ecosystem.
Civil-aviation cooperation between Abu Dhabi and India was also discussed at the meeting, with the aim of enhancing air connectivity to support the broader economic relationship. In the same context, investment opportunities and collaboration in developing an aviation and logistics hub in Dholera in Gujarat, India were also explored between the two sides.
Since its formation, the HLJTFI has consistently served as an open and effective mechanism for raising and resolving investment-related concerns between the UAE and India.
The two sides also noted the efforts undertaken through the UAE–India Fast Track Mechanism to resolve outstanding issues affecting UAE investments and companies in India, as well as Indian investments and companies in the UAE. The two sides agreed to take steps to support their timely resolution.
At the conclusion of the meeting, the co-chairs acknowledged the respective ambassadors, officials and technical teams for their continued contributions to the success of the HLJTFI….
d positive progress in investment and innovation and described the UAE as a trusted partner in India’s growth journey. Sheikh Hamed bin Zayed said the Joint Task Force has played an important role in supporting investors, resolving challenges and identifying new opportunities for cooperation between the two countries.
India and the UAE have agreed to take steps for the timely implementation of initiatives relating to settlement of trade in local currency, integration of payment and messaging systems, and central-bank digital currencies. The two sides reached the agreement during the 14th meeting of the India-UAE High Level Joint Task Force on Investments in Mumbai today. It was co-chaired by Commerce and Industry Minister Piyush Goyal and Managing Director of Abu Dhabi Investment Authority (ADIA) Sheikh Hamed bin Zayed Al Nahyan.
The Commerce and Industry Ministry said in a statement that these issues are important as they have the potential to make bilateral trade and investment more efficient, accessible and resilient. The areas where two-way investment flows can be enhanced include energy, industry, logistics, infrastructure, technology and artificial intelligence, space, food security, agricultural innovation and the startup ecosystem.
The task force was set up in 2013 to promote trade, investment and economic ties. It acts as a forum to resolve issues faced by investors of the two countries.
Addressing the media after the meeting, Mr Goyal said, India has set a target of raising its total exports of goods and services to one trillion dollars this year, from 863 billion dollars last year. He said, merchandise exports have grown by more than 15 per cent in the first six months of the current financial year, despite global economic challenges.
He said bilateral trade between India and the UAE has doubled to around 100 billion dollars under the Comprehensive Economic Partnership Agreement. The two countries now aim to take bilateral trade to 200 billion dollars by 2032.
The UAE has already invested around 25 billion dollars in India and has indicated plans to invest another 25 billion dollars soon, with a long-term investment target of 100 billion dollars.
Mr Goyal said cooperation between the two countries is expanding across several sectors, including space technology, shipbuilding, food security, artificial intelligence, logistics, energy and fintech. He said greater cooperation in food processing and exports would provide Indian farmers with assured markets while creating employment opportunities for youth and MSMEs.
The Minister also said India and the UAE are exploring cooperation in strategic petroleum reserves, LNG and LPG supplies, and possible subsea gas pipelines to strengthen energy security.
In the maritime sector, cooperation will focus on modern ports, shipbuilding, ship repair and container manufacturing. A dedicated working group will be set up to take forward these initiatives.
Mr Goyal also highlighted the growing use of UPI in the UAE, saying future cooperation in fintech will focus on cybersecurity, artificial intelligence-based financial services and startups. He said the India-UAE trade agreement, concluded in less than 90 days, reflects the strong trust and economic partnership between the two countries.