UAE wealth fund ADIA plans $4-5b vehicle to invest in India's GIFT City: report

UAE wealth fund ADIA plans $4-5b vehicle to invest in India's GIFT City: report

Sheikh Zayed Rd, Dubai, United Arab Emirates. Photo by Darcey Beau on Unsplash

Abu Dhabi Investment Authority (ADIA), the largest sovereign wealth fund in the United Arab Emirates (UAE), is setting up a $4-5 billion fund to invest in India through a tax-neutral finance hub in Prime Minister Narendra Modi’s home state of Gujarat, according to two sources with direct knowledge of the matter.