Piyush Goyal to Co-chair 13th India-UAE Investment Meet, Set to Review $84B Trade Pact

Union Commerce Minister Piyush Goyal is set to co-chair the 13th India-UAE High Level Task Force on Investments (HLTIFI) in Abu Dhabi, a pivotal meeting aimed at reviewing the blockbuster success of a bilateral trade pact and unlocking new opportunities in futuristic sectors.

What is the Agenda for the High-Level Meeting?

Consolidation and future expansion are the main topics of the meeting, which is co-chaired by Sheikh Hamed bin Zayed Al Nahyan, Managing Director of the Abu Dhabi Investment Authority.Key discussion points include:

• Reviewing CEPA: A comprehensive assessment of the India-UAE Comprehensive Economic Partnership Agreement, the cornerstone of the modern trade relationship.
• Finalizing a Double Taxation Treaty: Addressing fiscal policy to further encourage and protect cross-border investments.
• Central Bank Cooperation: Enhancing collaboration on financial and monetary matters between the two nations.
• Exploring New Frontiers: Both sides will identify investment opportunities in high-growth potential sectors like maritime and space.

Why is This Meeting So Significant?

The HLTIFI meeting is a vital platform for steering one of India's most important strategic economic partnerships. Established in 2013, the group is responsible for promoting trade, resolving investor issues, and identifying new avenues for collaboration. This session follows the 12th meeting in Mumbai where a crucial Bilateral Investment Treaty was ratified.

How Successful Has the India-UAE Trade Relationship Been?

The numbers underscore the meeting's importance. Bilateral merchandise trade has grown rapidly since the CEPA went into effect in May 2022:

• From FY2020–21's $43.3 billion to FY2023–24's remarkable $83.7 billion, trade has almost doubled.
• This expansion diversifies the economic ties beyond hydrocarbons and represents a significant structural shift towards non-oil commerce.

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Who Else Will Minister Goyal Engage With?

Beyond the task force, Minister Goyal’s two-day visit is packed with high-level diplomacy and business outreach. His schedule includes:

• Co-chairing a UAE-India Business Council roundtable with Dr. Thani bin Ahmed Al Zeyoudi, UAE’s Minister of Foreign Trade.
• Interactions with CEOs of leading Indian and UAE companies to foster private sector collaboration.
• Bilateral meetings with key figures like Sheikh Tahnoun bin Zayed Al Nahyan, UAE National Security Advisor, and other senior economic officials.

The meeting is poised to strengthen the comprehensive strategic partnership, underpinned by deep political engagement and robust economic integration across energy, defence, and technology.