Piyush Goyal to co-chair 13th India-UAE investment meet

The meeting will review progress on the India-UAE Comprehensive Economic Partnership Agreement (CEPA), the Double Taxation Treaty, and UAE-India Central Bank matters, the commerce ministry said in a statement on Wednesday.

Both sides will also explore opportunities for investment in key sectors, including maritime and space, that hold strong potential for growth. Goyal’s two-day UAE visit on September 18-19 will give a boost to trade and investment.

During his visit, Goyal will co-chair the UAE-India Business Council (UIBC) roundtable with Dr Thani bin Ahmed Al Zeyoudi, the UAE’s minister of foreign trade, and interact with CEOs of leading Indian and UAE companies.

He will also hold bilateral meetings focused on strengthening trade, investment, and cooperation across priority sectors.

The minister is also expected to meet Sheikh Tahnoun bin Zayed Al Nahyan, national security adviser of the UAE and chairman of the International Holding Company (IHC); Ahmed Jasim Al Zaabi, chairman of the Abu Dhabi Department of Economic Development; and Syed Basar Shueb, managing director of IHC, along with other key private sector stakeholders.

The 12th HLJTFI, held in Mumbai in October 2024, saw the ratification of the India-UAE Bilateral Investment Treaty signed during Prime Minister Narendra Modi’s visit to the UAE in February 2024. Established in 2013, the HLJTFI has served as a vital platform for promoting trade and investment ties, identifying new opportunities, and resolving investor issues.

The UAE remains one of India’s most important strategic partners. Their comprehensive strategic partnership is underpinned by deep political engagement, robust economic integration, and collaboration across energy, defence, technology, and food security.

The CEPA, which came into force in May 2022, has nearly doubled bilateral merchandise trade from $43.3 billion in FY2020-21 to $83.7 billion in FY2023-24, while catalysing a structural shift towards non-oil sectors.