UAE Is An Important Partner In India’s Growth Story: Piyush Goyal In Abu Dhabi

Commerce and Industry Minister Piyush Goyal on Thursday described the United Arab Emirates (UAE) as an essential partner in India’s growth journey, highlighting that the partnership rests on innovation, investment, and sustainable development.

He said both countries are set to witness a great transformation under the visionary leadership of both sides.

India, UAE Hold Joint Task Force on Investments

Goyal co-chaired the High-Level Joint Task Force on Investments with Sheikh Hamed bin Zayed Al Nahyan, Managing Director of the Abu Dhabi Investment Authority (ADIA).

Senior officials from government agencies, investment bodies, and companies of both nations attended the meeting.

The two sides discussed trade and investment initiatives, explored new areas of cooperation, and reviewed progress on existing projects.

Goyal said India remains the world’s fastest-growing large economy and is committed to inclusive, sustainable, and resilient growth.

Sheikh Hamed added that the India-UAE trade and investment relationship is expanding rapidly, built on shared goals and mutual success.

“Today’s Joint Task Force meeting included positive updates on several important initiatives and explored new areas for future cooperation. This forum will continue to play a key role in deepening the economic partnership between the UAE and India,” Sheikh Hamed said.

Strengthening Ties Through CEPA

Established in 2013, the Joint Task Force has acted as a vital platform to boost economic ties and resolve investment-related challenges. Both sides acknowledged the strong momentum in bilateral trade following the India-UAE Comprehensive Economic Partnership Agreement (CEPA), implemented in May 2022.

Bilateral non-oil trade reached nearly $38 billion in the first half of 2025, a 34% increase compared to the same period in 2024, marking a significant step toward the UAE’s 2030 trade goals.

The meeting reviewed several joint projects, including Bharat Mart, a 2.7 million sq ft complex in Jebel Ali Free Zone, designed to showcase Indian products globally. Officials also discussed potential collaborations in India’s maritime and space sectors.

Delegations assessed ongoing initiatives between the central banks of both countries to enable bilateral trade in local currencies, integrate payment systems, and cooperate on Central Bank Digital Currencies (CBDCs).

Both sides welcomed the progress and reaffirmed their commitment to finalising implementation soon.

The Joint Task Force also reviewed current challenges faced by investors from both nations.

The Co-Chairs instructed their teams to coordinate with relevant authorities to resolve these issues swiftly and in a mutually beneficial manner.

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