The 12th Meeting of the India-UAE High-Level Joint Task Force on Investments (HLJTFI) in Mumbai highlighted opportunities for increased economic engagement, particularly in food parks, digital payments, and green energy.
The meeting, co-chaired by Piyush Goyal, minister of commerce for India, and Sheikh Hamed bin Zayed Al Nahyan, managing director of ADIA, showcased the expanding collaboration, strengthened by the CEPA.
India and the UAE decided to expedite the establishment of food parks to improve food security in the UAE, generate employment, and raise farmer incomes. ADIA’s subsidiary at GIFT City and the India-UAE office of Invest India were among the new initiatives revealed. The previous BIPPA was superseded by the Bilateral Investment Treaty, which guarantees investors equitable treatment and dispute settlement.
One of the topics of discussion was how to connect the UAE’s AANI and India’s UPI to facilitate easier cross-border payments for the more than 3 million Indians living in the UAE. Goyal pointed out that these programs encourage investment, innovation, and sustainable development.
The Joint Task Force continues to play a critical role in enabling investments in industries such as energy, digital currency, and aerospace, hence promoting economic progress for both India and the United Arab Emirates.
