September 18th 2025.
Piyush Goyal, the Commerce Minister of India, expressed his gratitude towards the UAE for being a crucial partner in India's growth journey. He acknowledged the strong alliance between the two nations which is built on the foundation of innovation, investment, and sustainable development. He also mentioned the potential for great transformation in this partnership, which is being led by the visionary leadership of both sides.
Recently, the 'High-Level Joint Task Force on Investments' held a meeting in Abu Dhabi to discuss various trade and investment matters. The focus was on strengthening the bilateral investment flows and exploring new areas of collaboration. The meeting was co-chaired by Piyush Goyal and Sheikh Hamed bin Zayed Al Nahyan, the Managing Director of Abu Dhabi Investment Authority. It was attended by senior officials from government authorities, investment entities, and companies from both countries.
Goyal highlighted India's remarkable journey as the world's fastest-growing large economy and its commitment towards inclusive, sustainable, and resilient growth. Sheikh Hamed also acknowledged the strong trade and investment relationship between the UAE and India, which is driven by shared goals and mutual success. He further added that the meeting discussed the progress of ongoing initiatives and identified new areas for future cooperation. The Joint Task Force, established in 2013, has played a crucial role in strengthening economic ties between the two nations.
The bilateral trade between India and the UAE has seen a positive momentum, with a 34% increase in the first half of 2025 compared to the same period in 2024. This growth can be attributed to the implementation of the India-UAE Comprehensive Economic Partnership Agreement in 2022. The agreement has facilitated market access and collaboration between the private sectors of both countries. It has also served as a model for constructive cooperation in the ever-changing global trading landscape.
The meeting also reviewed the progress of joint investment projects, such as the Bharat Mart, which is a 2.7 million square feet complex in the Jebel Ali Free Zone. This project promotes Indian manufacturers and exporters by providing them a platform to showcase their products to the world. The two sides also discussed the potential for collaboration in the maritime and space sectors in India.
The Central Banks of India and the UAE are working towards enabling bilateral trade in local currencies, integrating payment systems, and cooperation on Central Bank Digital Currencies. The progress made in these strategic initiatives was commended by both sides, and they reiterated their commitment to finalizing their implementation in the near future.
The Joint Task Force also addressed current issues and challenges faced by investors from both countries. The Co-Chairs directed their teams to work together with relevant government entities to resolve these issues in a timely and mutually acceptable manner. The strong economic alliance between India and the UAE is a testament to their friendly relations and the potential for future growth and collaboration.
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