{"id":88834,"date":"2024-02-08T00:00:00","date_gmt":"2024-02-08T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/adia-to-invest-usd-4-5-bn-in-indias-gift-city\/"},"modified":"2024-02-08T00:00:00","modified_gmt":"2024-02-08T00:00:00","slug":"adia-to-invest-usd-4-5-bn-in-indias-gift-city","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2024\/02\/08\/adia-to-invest-usd-4-5-bn-in-indias-gift-city\/","title":{"rendered":"ADIA to invest USD 4-5 bn in India\u2019s GIFT City"},"content":{"rendered":"

ADIA to set up a USD 4-5 bn fund in India\u2019s Gift City:<\/strong> Abu Dhabi\u2019s sovereign wealth fund Abu Dhabi Investment Authority<\/a> (ADIA) is set to establish a USD 4-5 bn fund in Gujarat International Finance Tec-City<\/a> (Gift City) in India, after receiving in-principle approval from the city\u2019s financial regulatory authority, Reuters<\/a> reports, citing two unnamed sources with direct knowledge of the matter. The sovereign wealth fund is set to become the first to invest in the city, the newswire wrote.<\/p>\n

What we know:<\/strong> ADIA is looking to kick off investments with the new fund by mid-year, gradually channeling the allocated funds into India over an unspecified period of time, according to one of the sources. Funds at Gift City can invest in both Indian and foreign equities, as well as debt securities and other assets, the newswire said. <\/p>\n

The UAE has been one of India\u2019s prime investors<\/strong>, with talks on establishing ADIA\u2019s presence in Gift City ongoing since India\u2019s Prime Minister Narendra Modi visited the UAE in July 2023, according to a joint statement<\/a> from both states. Trade between the two countries reached USD 85 bn during India\u2019s FY 2022-203, which ended in March 2023, with the UAE emerging as India\u2019s third largest trade partner.<\/p>\n

REMEMBER- ADIA and its subsidiaries have been exempt from long-term capital gains<\/strong> taxes on Indian investments<\/strong> since 2020 through a special provision. This provision remains applicable until March 2025.<\/p>\n

India\u2019s GIFT City is angling to become a foreign investor haven: <\/strong>The economic zone offers 10-year tax holidays for companies setting up shop in the city\u2019s financial center, with no taxes on transferring funds internationally. One of the city\u2019s goals is to curb offshore equity trading, Bloomberg<\/a> wrote earlier. The city secured over USD 30 bn worth of commitments and USD 2.93 bn in investments across 95 local and global funds as of December 2023, according to Reuters.<\/p>\n","protected":false},"excerpt":{"rendered":"

ADIA leads as the first sovereign wealth fund investing in India\u2019s GIFT City<\/p>\n","protected":false},"author":1,"featured_media":88835,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1557],"tags":[368,7,73,1342,25,1379,1334],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-88834","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment-watch","tag-abu-dhabi-investment-authority","tag-enterpriseam-uae","tag-india","tag-investment","tag-investment-watch","tag-tax","tag-trade","wpautop","entry"],"acf":{"mongo_id":"a215e435-aa1d-44b4-8096-5504c17bf479","order":"0","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/2\/646.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Abu Dhabi wealth fund to set up USD 4-5 bn fund in Indian finance hub","related_issue":[88830],"teaser":"ADIA leads as the first sovereign wealth fund investing in India\u2019s GIFT City","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/2\/.35facb13-acd9-4dfc-8dd5-4fb49275d847.mp3"},"yoast_head":"\nADIA to invest USD 4-5 bn in India\u2019s GIFT City - 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