India looks to UAE sovereign wealth fund for infrastructure investments
16 Feb 2013
India is wooing some of the world's largest sovereign wealth funds, including the Abu Dhabi Investment Authority (ADIA), as the private equity funds explore investment opportunities in India
Abu Dhabi Investment Authority (ADIA) is one of the largest sovereign wealth funds in the world with assets reported to be $ 627 billion.
India's minister of commerce, industry and textiles Anand Sharma today left for a two-day visit to United Arab Emirates (UAE) where he will co-chair the first meeting of a high-level task force on investment with UAE on Monday, apart from substantive bilateral meetings.
Sharma will also meet his counterpart Sheikha Lubna Bint Khalid Al Qasimi, minister of foreign trade, UAE and will address businessmen/investor at Dubai tomorrow.
''We deeply value our relationship with UAE and view this country as our economic gateway to the entire gulf region. Our economic engagement has shown a lot of promise and on the trade front. However, if we look at the spectrum of investments, the UAE investments into India stand at a level, which is far less than the potential of cooperation between our two countries,'' Sharma said before leaving for the UAE.
''It is important to take stock of the opportunities which present themselves for private and public enterprises on both sides to invest in each other's economies and develop long-term investment partnerships,'' he added.
