Abu Dhabi Comtemplating investing $50 billion Pledges in India.

Abu Dhabi and india PM

Abu Dhabi considering investment pledges worth $50 billion for India The United Arab Emirates also known as UAE is bargaining on real investment that worth $50 billion in India. This remarkable move shows UAE’s confidence in the potential of the world’s fastest-growing major economy. Early next year the Provisional pledges from the UAE could be announced. Any new investments would follow Narendra Modi’s meetings with UAE President Sheikh Mohammed bin Zayed in July.

The countries have been seeking to bolster ties over the past decade, focused to increase non-oil bilateral trade to $100 billion. Recently, Modi’s visit to Abu Dhabi marked his fifth trip to the Gulf nation since he took over as prime minister in 2014. Deals that were discussed include stakes in key Indian infrastructure projects and state-owned assets. Although, the announcements likely before Modi seeks a third term in federal elections will due next year, the people said. Some of the investments could involve sovereign wealth funds such as the Abu Dhabi Investment Authority, Mubadala Investment Co. and ADQ, they said.

According to reports, the pledges are unlikely to have clear timelines for a large chunk of the investments. Although, there is no final decisions have made yet on the size or timing of the announcements. As part of the push, entities overseen by Sheikh Tahnoon bin Zayed Al Nahyan have held early-stage talks on investing billions of dollars in India, one of the people said. Sheikh Tahnoon is the UAE president’s brother and chairman of International Holding Co., which disclosed a 5% stake in Gautam Adani’s flagship conglomerate last month.

That came days after IHC sold down holdings in two Adani firms, though the firm reiterated its commitment to India at the time. Furthermore, representatives for India’s finance and trade ministries, the Abu Dhabi government, and Sheikh Tahnoon’s private investment firm Royal Group didn’t respond to requests for comment. As is stand now, ADIA, ADQ and Mubadala declined to comment.

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