Abu Dhabi Investment Authority (ADIA), one of the largest sovereign wealth funds globally, has launched its India operations with the opening of an office in GIFT City, Gujarat. ADIA's expansion into India follows regulatory approvals and is expected to deepen its investment activities in the country. The UAE remains India's largest Arab investor, with USD 3 billion in investments in 2023-24. ADIA's presence in GIFT City enhances the region's reputation as a leading financial hub, signaling continued growth in India-UAE investment relations.
The Abu Dhabi Investment Authority (ADIA), one of the world's largest sovereign wealth funds, has officially commenced operations in India after securing necessary regulatory approvals. ADIA, established in 1976, is known for its globally-diversified investment strategy, focusing on long-term value creation for the Government of Abu Dhabi. The newly opened office in Gujarat's GIFT City marks a significant milestone in deepening ADIA's investment footprint in India.
The decision to open an office in GIFT City was initially discussed during Indian Prime Minister Narendra Modi's visit to Abu Dhabi in July 2023. This commitment was further reinforced during the visit of UAE President Sheikh Mohammed bin Zayed Al Nahyan to Ahmedabad in January 2024. As part of its expansion, ADIA also announced the creation of an Alternative Investment Fund in GIFT City, aimed at consolidating all its India-related investments.
GIFT City, which is rapidly becoming a global financial and technology hub, offers ADIA the perfect environment to further intensify its investment activities in India. The city's financial ecosystem, backed by a robust regulatory framework, has positioned it as a prime destination for international investors seeking opportunities in India's growing economy.
The 12th Meeting of the India-UAE High-Level Joint Task Force on Investments, co-chaired by Piyush Goyal, India's Commerce and Industry Minister, and Sheikh Hamed bin Zayed Al Nahyan, ADIA's Managing Director, highlighted the significance of ADIA's new office. The discussions focused on leveraging ADIA's presence in India to strengthen its investment portfolio across key sectors, further enhancing economic ties between the two nations.
ADIA's move comes at a time when UAE continues to be India's largest Arab investor, with investments totaling USD 3 billion in 2023-24. The UAE also ranked as the sixth-largest source of foreign direct investment (FDI) in India for 2023-24, cementing its role as a critical partner in India's economic growth. ADIA's presence in GIFT City is expected to open new avenues for investment, further solidifying the UAE's role as a key investor in India?s dynamic and expanding market.
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