Overview of Union Minister Piyush Goyal’s Visit to UAE from September 18 to 19, 2025

Union Minister Piyush Goyal, Ministry of Commerce & Industry (MoC&I) visited the United Arab Emirates (UAE) from September 18 to 19, 2025 to enhance trade and investment ties and to expand cooperation in education, technology, and emerging sectors.

• Union Minister Piyush Goyal was accompanied by the large Indian business delegation which included representatives from the Confederation of Indian Industry (CII), Federation of Indian Chambers of Commerce & Industry (FICCI), and the Associated Chambers of Commerce and Industry of India (ASSOCHAM).

Key Highlights of Union Minister Piyush Goyal’s Visit to UAE:

13th India-UAE HLJTFI:

Co-chairs: On September 18, 2025, Union Minister Piyush Goyal co-chaired the 13th India-UAE High Level Task Force on Investments (HLJTFI) along with Sheikh Hamed bin Zayed Al Nahyan, Managing Director (MD) of the Abu Dhabi Investment Authority (ADIA) held in Abu Dhabi, UAE.

• During the meeting, both countries reviewed the progress on the India-UAE Comprehensive Economic Partnership Agreement(CEPA) which came into force in May 2022, the Double Taxation Treaty (DTT), and UAE-India Central Bank matters.
• They also explored opportunities for investment in key sectors such as: maritime and space that hold strong potential growth.

Key Participants: The meeting was attended by senior officials from government authorities, investment companies from India and the UAE.

• Indian Delegation: It included Sunjay Sudhir, Ambassador of India to the UAE; and senior representatives from government departments/organizations such as Department of Promotion of Industry and Trade (DPIIT) under MoCI, Ministry of External Affairs (MEA), Ministry of Ports, Shipping & Waterways (MoPSW), Reserve Bank of India (RBI), National Payments Corporation of India (NPCI), among others.
• The UAE Delegation: It included Dr. Thani bin Ahmed Al Zeyoudi, Minister of Foreign Trade, the UAE; Younis, Haji Al Khouri, UAE Ambassador to India; Ahmed Jassim Al Zaabi, Chairman of Abu Dhabi Department of Economic Development (ADDED), among others..

Progress Made under India-UAE CEPA: As per the MoC&I, the CEPA has nearly doubled bilateral trade from USD 43.3 billion in Financial Year 2020-21 (FY21) to USD 83.7 billion (in FY24).

• Also, bilateral non-oil trade reached approximately USD 38 billion in 1st half of 2025, marking an increase of 34% compared to 1st half of 2024.
• India-UAE CEPA aims to bolster collaboration across key sectors: energy, defence, technology, and food security.

Review Progress of Bharat Mart: Both countries reviewed the progress of various joint investment projects such as: Bharat Mart, a 2.7 million square feet (sq. ft.) complex situated in Jebali Ali Free Zone (the UAE).

• It is designed to allow Indian manufacturers and exporters to demonstrate their products at the global level.

Other Key Areas of Discussions: Also, India and UAE discussed various strategic initiatives between the Central Banks of India and the UAE to enable bilateral trade in local currencies, the integration of payment systems in the two countries and cooperation on Central Bank Digital Currencies (CBDCs).

Background: The joint investment task force was originally formed in 2013, to provide key platform for promoting trade and investment relations, exploring new opportunities and resolving investor issues between India and the UAE.

• India hosted the 12th India-UAE HLJTFI in Mumbai, Maharashtra in 2024.

UAE-India Business Council (UIBC): 

Roundtable Meeting: During his visit to the UAE, Union Minister Piyush Goyal co-chaired the UAE-India Business Council (UIBC) roundtable with Dr. Thani bin Ahmed Al Zeyoudi, Minister of Foreign Trade of the UAE, held in Abu Dhabi, the UAE.

• While addressing the business forum, he highlighted that India, currently, the 4th largest economy in the world, is projected to become the world’s 3rd largest economy by 2027.
• He further mentioned that India aims to grow from a USD 4 trillion economy to USD 30-35 trillion by 2047.

Target : During the meeting, India and the UAE have agreed to achieve USD 100 billion in non-oil, non-precious metals bilateral trade over the next 3 years.

New Sectors of Cooperation: Both countries have identified new sectors of cooperation including, maritime, space, defense, and aerospace, data centers, pharmaceuticals, food processing, fisheries, textiles, leather, and home decors.

Background: UIBC was formally launched during the 11th Session of India-UAE Joint Commission Meeting in September 2015 in New Delhi, Delhi.

Bilateral Meetings:

During his visit, Union Minister Goyal held bilateral meetings with Sheikh Tahnoun bin Zayed Al Nahayan, National Security Advisor (NSA) of the UAE and Chairman of the International Holding Company (IHC); Ahmed Jassim Al Zaabi, Chairman of the ADDED, along with other key private stakeholders.

About United Arab Emirates (UAE):
President- Sheikh Mohamed bin Zayed Al Nahayan
Capital- Abu Dhabi
Currency- United Arab Emirates Dirham (AED)