ADIA Commences Operations in India: Strengthening Ties and Investments

The Abu Dhabi Investment Authority (ADIA) has launched its India operations with a new office in GIFT City, Gujarat, after receiving regulatory approval. The move aims to expand ADIA's investment activities in India, reflecting deepening UAE-India economic relations. ADIA also plans to establish an Alternative Investment Fund for its India investments.

The Abu Dhabi Investment Authority (ADIA), the largest sovereign wealth fund in the UAE, has officially launched its operations in India. ADIA has set up an office in Gujarat's GIFT City, marking a significant step following regulatory approval. Established in 1976, ADIA is known for a global investment strategy aimed at long-term value growth for Abu Dhabi's government.

The new office is expected to boost ADIA's investment activities within India, as discussed during the 12th Meeting of the India-UAE High-Level Joint Task Force on Investments held in Mumbai. This meeting was co-chaired by Commerce Minister Piyush Goyal and ADIA Managing Director Sheikh Hamed bin Zayed Al Nahyan. GIFT City in Ahmedabad is rapidly becoming a global financial and technology hub, supporting business expansions.

During Prime Minister Narendra Modi's visit to Abu Dhabi in July 2023, the establishment of ADIA's presence at GIFT City was announced. This was reiterated during UAE President Sheikh Mohammed bin Zayed Al Nahyan's visit to Ahmedabad in January 2024. ADIA has also launched an Alternative Investment Fund to encompass its India-centric investments, highlighting a strong UAE interest in India's vibrant economy. The UAE remains India's largest Arab investor, reinforcing bilateral investment ties with a new treaty enhancing investment flows.

(With inputs from agencies.)