Team Blitz India
NEW DELHI: The United Arab Emirates is considering a substantial investment of up to $50 billion in India, its second-largest trading partner, emphasising its confidence in the world’s fastest-growing major economy.
According to unconfirmed reports, these investments may materialise next year. Over the last decade, both nations have been working towards elevating bilateral trade to $100 billion.
PM Modi’s recent visit to Abu Dhabi marked his fifth visit to this Gulf nation since assuming office as Prime Minister in 2014, a notable feat, given the fact that the last Indian premier to visit the UAE before him was Indira Gandhi in 1981.
The envisaged deals encompass stakes in significant Indian infrastructure ventures and stateowned assets. Some of these investments may involve sovereign wealth funds, including the formidable Abu Dhabi Investment Authority, Mubadala Investment Co., and ADQ.
Furthermore, in line with this concerted endeavour, entities overseen by Sheikh Tahnoon bin Zayed Al Nahyan have embarked on preliminary discussions concerning investments worth billions of pounds in India.
Sheikh Tahnoon, who is the brother of the UAE’s President and the Chairman of International Holding Co., gained attention by recently disclosing a 5 per cent stake in Gautam Adani’s flagship conglomerate.