India, UAE To Review Trade, Investment, Banking Issues On Sep 18-19

By siliconindia | Thursday, 18 September 2025, 08:23 Hrs

Commerce Minister Piyush Goyal begins 2-day UAE visit to co-chair 13th India-UAE High Level Task Force on Investments (HLJTFI)
Discussions to focus on CEPA progress, Double Taxation Treaty, and central bank cooperation
Bilateral trade boosted to USD 83.7 bn under CEPA; target set to reach USD 100 bn non-oil trade by 2030

Piyush Goyal, Commerce and Industry Minister, is visiting the United Arab Emirates (UAE) on September 18–19 on a two-day visit to co-chair the 13th session of the India-UAE High Level Task Force on Investments (HLJTFI) with Sheikh Hamed bin Zayed Al Nahyan, Managing Director of Abu Dhabi Investment Authority (ADIA). As per an official release, the visit will be aimed at discussing the progress of the Comprehensive Economic Partnership Agreement (CEPA), the Double Taxation Treaty, and issues concerning the central banks of both countries.

Both sides will also discuss the possibilities of enhancing investment opportunities in priority growth sectors such as maritime and space, which have been identified as potential areas of cooperation. Besides, Goyal will also co-chair the UAE-India Business Council (UIBC) round-table with the UAE Minister of Foreign Trade, Thani bin Ahmed Al Zeyoudi. This round-table will convene CEOs and business leaders from both sides to discuss building trade, investment, and cooperation in key priority sectors. Bilateral meetings with the key officials are also planned during the visit, reflecting the mutual commitment to enhanced economic engagement.

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The HLJTFI, which was set up in 2013, is now a key platform to facilitate trade and investment ties, address investor grievances, and explore new sectors of cooperation. The 12th edition of the task force, organized in Mumbai in October 2024, had witnessed the signing of the India-UAE Bilateral Investment Treaty, further strengthening the platform for long-term economic relationships.

As the CEPA took effect in May 2022, India-UAE bilateral trade in merchandise has recorded a remarkable boost from USD 43.3 billion in 2020-21 to USD 83.7 billion in 2023–24. Both countries have established a lofty goal of raising bilateral non-oil trade to USD 100 billion in 2030. The UAE is already the seventh-largest Indian investor, with total foreign direct investment flows of USD 24 billion between April 2000 and June 2025.

Goyal's visit is likely to give further fillip to this emerging partnership, strengthening the strategic economic partnership that has emerged as a pillar of India's relations with the Gulf.