Abu Dhabi sovereign fund keen to invest in India

January 16th, 2012 - 7:12 pm ICT by IANS  

New Delhi, Jan 16 (IANS) Abu Dhabi Investment Authority, the sovereign wealth fund of the United Arab Emirates, Monday expressed “keen interest” in increasing investment in India, especially in infrastructure sector.

“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.

Sheikh Hamed discussed the investment opportunities with Commerce and Industry Minister Anand Sharma during a meeting at Udyog Bhawan here.

“We will be very happy to see your participation in India’s infrastructure building,” Sharma said.

The two country have agreed to set up a joint working group to facilitate the flow of investments, commerce and industry ministry said in a statement after the meeting.

“Keeping in mind the worsening investment climate in developed nations both the leader agreed that UAE and India should engage more,” the statement said.

Sharma pointed out 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 , which are being de-risked before bidding by obtaining all necessary regulatory approvals, might appeal to ADIA for investments as such investments are likely to be profitable,” Sharma said.

Sharma said besides infrastructure, Abu Dhabi fund can also invest in the sectors like pharma, agro-processing, engineering and services sector.

Abu Dhabi Investment Authority is one of the world’s largest sovereign wealth fund with estimated value of over $600 billion.

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