The eighth meeting of the India-UAE High Level Joint Task Force on Investments was hosted by India in virtual format.
- The Joint Task Force was created in 2012 as a crucial forum for further deepening the already strong economic ties between the UAE and India.
- The mechanism has assumed greater importance as the two countries entrench the Comprehensive Strategic Partnership Agreement signed in January 2017.
- The two sides expressed satisfaction at the level of bilateral trade and investment to date.
- With an aim to further strengthen the trade and economic ties between the two countries, both sides reiterated the importance of addressing specific perceived barriers to trade.
- These include issues relating to anti-dumping duties and measures, as well as any tariff and regulatory restrictions.
- Both sides reviewed the existing UAE special desk, ‘UAE Plus’ and the Fast Track Mechanism created in 2018 to facilitate investments and to resolve any challenges experienced by UAE investors in India.
- The two sides discussed issues related to the development and operation of UAE-based funds to invest in India, including in the light of SEBI Foreign Portfolio Investor Regulations 2019.
- Other areas of discussion were about cooperation and potential investments in key sectors in India including the healthcare and pharmaceutical industry, mobility and logistics, food and agriculture, energy and utilities and others.