| ADIA keen to invest in India |
NEW DELHI Abu Dhabi Investment Authority (ADIA), the sovereign wealth fund of the UAE, on Monday expressed “keen interest” in increasing investment in India, especially in infrastructure.
“This is an opportunity to enter this huge market,” said Sheikh Hamed Bin Zayed Al Nahyan, managing director of Abu Dhabi Investment Authority, who is on a visit here.
Hamed discussed the investment opportunities with Commerce and Industry Minister Anand Sharma. “We will be very happy to see your participation in India’s infrastructure building,” Sharma said.
The countries have agreed to set up a joint working group to facilitate the flow of investments, commerce and industry ministry said. “Keeping in mind the worsening investment climate in developed nations both the leader agreed that UAE and India should engage more,” it said.
Sharma said that India would be investing $1 trillion in infrastructure over the next 5 years and it would provide a good opportunities for Abu Dhabi soveriegn wealth fund to invest.
“Returns on infrastructure in India are amongst the highest in the world. The Delhi Mumbai Industrial Corridor (DMIC) projects might appeal to ADIA for investments as such investments are likely to be profitable,” Sharma said.
Indo-Asian News Service
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