How is the UAE an important partner in India's growth story?
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Synopsis
Discover how UAE's strategic partnership with India is paving the way for unprecedented growth, driven by innovation and sustainable development. Commerce Minister Piyush Goyal sheds light on the future of this collaboration, promising transformative advancements under visionary leadership.
Key Takeaways
- UAE is a crucial partner in India's growth story.
- Joint Task Force on Investments facilitates discussions on trade and investment.
- Trade between UAE and India is experiencing impressive growth.
- The India-UAE CEPA strengthens economic ties.
- Future cooperation is anticipated in various sectors.
New Delhi, Sep 18 (NationPress) The UAE plays a crucial role in shaping India's growth narrative, with a partnership founded on the principles of innovation, investment, and sustainable development. This collaboration is poised for remarkable advancements under the dynamic leadership from both nations, stated Commerce Minister Piyush Goyal in Abu Dhabi on Thursday.
The 'High-Level Joint Task Force on Investments' between the two countries addressed various trade and investment matters, focusing on ongoing efforts to boost bilateral investment flows and exploring fresh avenues for cooperation.
Co-chaired by Sheikh Hamed bin Zayed Al Nahyan, Managing Director of the Abu Dhabi Investment Authority (ADIA), and Goyal, the meeting saw participation from high-ranking officials of relevant government bodies, investment firms, and companies from both nations.
Goyal highlighted India's journey as the fastest-growing major economy globally, committing to a path of inclusive, sustainable, and resilient growth.
Sheikh Hamed remarked on the growing trade and investment rapport between the UAE and India, emphasizing shared objectives and mutual success.
"The Joint Task Force meeting today yielded positive updates on several key initiatives and identified new areas for future collaboration. With the dedication of the Joint Task Force delegations, this forum will continually enhance and expand the economic partnership between the UAE and India," he expressed.
The Joint Task Force, established in 2013, serves as a vital platform for fortifying economic connections between India and the UAE.
Since its inception, it has effectively facilitated discussions and promoted investment opportunities in both countries while also addressing challenges faced by investors, striving for mutually beneficial resolutions.
The Co-Chairs acknowledged the robust growth in bilateral trade, notably following the implementation of the India-UAE Comprehensive Economic Partnership Agreement (CEPA) in May 2022.
In the first half of 2025, bilateral non-oil trade approached nearly $38 billion, marking a 34 percent rise compared to the first half of 2024—a significant stride towards the UAE's 2030 trade aspirations.
As per the Ministry of Commerce and Industry, the India-UAE CEPA is pivotal in facilitating market access and fostering private sector collaboration, serving as a cornerstone for the economic alliance and a model for constructive cooperation amidst a complex global trade environment.
The Joint Task Force also reviewed the progress of various collaborative investment projects, such as the Bharat Mart, a sprawling 2.7 million square feet complex situated in the Jebel Ali Free Zone in the UAE.
Designed to empower Indian manufacturers and exporters in showcasing their offerings globally, this landmark initiative epitomizes the economic synergies shared by the two nations.
The discussions also explored potential collaborative opportunities in maritime and space sectors in India.
"Current strategic initiatives between the Central Banks of India and the UAE aim to facilitate bilateral trade in local currencies, harmonize payment systems, and collaborate on Central Bank Digital Currencies. Both parties commended the substantial progress made thus far and reiterated their commitment to completing these implementations soon," the official statement noted.
The Joint Task Force evaluated various ongoing issues and challenges faced by investors from both nations, with Co-Chairs instructing their teams to collaborate with relevant government entities to resolve these matters promptly and satisfactorily.
Point of View
It is essential to recognize that the UAE-India partnership is not merely a transactional relationship but a strategic alliance built on shared values and mutual aspirations for growth. This collaboration is poised to play a critical role in shaping economic landscapes in both countries, fostering innovation, and addressing global challenges. The ongoing commitments from both sides signal a promising future for bilateral relations.
NationPress
20/09/2025
Frequently Asked Questions
What is the significance of the UAE-India partnership?
The UAE-India partnership is significant as it fosters economic growth through innovation, investment, and sustainable development, enabling both nations to achieve their respective trade and investment goals.
What initiatives were discussed during the Joint Task Force meeting?
The Joint Task Force meeting focused on enhancing bilateral investment flows, ongoing investment projects like Bharat Mart, and exploring cooperation in various sectors including maritime and space.
How has trade between the UAE and India evolved?
Trade between the UAE and India has evolved significantly, with bilateral non-oil trade reaching nearly $38 billion in the first half of 2025, marking a 34% increase compared to the previous year.
What role does the India-UAE CEPA play?
The India-UAE CEPA serves as a foundational agreement facilitating market access and collaboration between private sectors, strengthening the economic alliance amid a rapidly changing global trade environment.
What challenges are faced by investors in both countries?
Investors face challenges such as regulatory hurdles and market access issues, which the Joint Task Force aims to address through collaborative efforts and timely resolutions.
