UAE wealth fund opens India office

Abu Dhabi Investment Authority (ADIA), the emirate’s sovereign wealth fund, has expanded its presence in India.

ADIA has opened an office in the Gujarat International Finance Centre, a special economic zone in the Indian state of Gujarat.

The office opening is designed to reinforce the investment ties between the two countries, according to a joint statement.

It is also hoped that more sovereign wealth funds will follow ADIA’s example and set up shop in India. In addition, ADIA is one of the investors in the Indian government-backed National Investment and Infrastructure Fund

The UAE was India’s fourth largest sovereign investor last year. In addition, ADIA’s move also comes in the wake of a visit to the UAE from Indian president Narendra Modi.

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