Union Commerce and Industry Minister Piyush Goyal heads to the United Arab Emirates (UAE) for a packed two-day visit starting September 18. He’ll team up with Sheikh Hamed bin Zayed Al Nahyan, Managing Director of the Abu Dhabi Investment Authority (ADIA), to co-chair the 13th India-UAE High Level Task Force on Investments (HLTFI). This key meeting aims to boost India-UAE economic ties and explore fresh investment opportunities.
During the visit, Goyal and his UAE counterpart will review major milestones, including the India-UAE Comprehensive Economic Partnership Agreement (CEPA), the Double Taxation Avoidance Agreement, and UAE-India Central Bank initiatives. They’ll also dive into promising sectors like maritime and space, which show huge growth potential for both nations.
Goyal won’t just stick to official talks. He plans to co-chair a UAE-India Business Council (UIBC) roundtable alongside UAE Minister of State for Foreign Trade Dr. Thani bin Ahmed Al Zeyoudi. Expect lively discussions with CEOs from top Indian and UAE companies to spark new business ideas.
On top of that, Goyal will hold one-on-one meetings to strengthen trade, investment, and cooperation in priority areas. His itinerary includes chats with big names like Sheikh Tahnoun bin Zayed Al Nahyan, UAE’s National Security Advisor and Chairman of the International Holding Company (IHC); Ahmed Jasim Al Zaabi, Chairman of the Abu Dhabi Department of Economic Development (ADDED); and Syed Basar Shueb, Managing Director of IHC. He’ll also connect with other private sector leaders to drive real progress.
This visit builds on the momentum from the 12th HLTFI meeting in Mumbai last October, where India and UAE ratified their Bilateral Investment Treaty—signed during Prime Minister Narendra Modi’s UAE trip in February 2024. Since its start in 2013, the HLTFI has played a crucial role in expanding trade, spotting new opportunities, and fixing investor challenges.
The UAE stands as one of India’s top strategic partners, with their Comprehensive Strategic Partnership covering everything from politics and energy to defense, technology, and food security. The CEPA, effective since May 2022, has supercharged bilateral trade—jumping from USD 43.3 billion in FY 2020-21 to a whopping USD 83.7 billion in FY 2023-24. Plus, it has shifted focus toward non-oil sectors, opening doors for even more collaboration.
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