UAE wealth funds pump over $10bln into India infrastruture

UAE wealth funds pump over $10bln into India infrastruture

The UAE sovereign wealth funds have invested more than $10 billion in India and this is an endorsement of India’s growth story, said Sunjay Sudhir, Ambassador of India to the UAE, at the opening of the 2022 annual conference of Credai, the 13,000 plus strong apex association of Indian real estate developers, in Abu Dhabi.

These investments over the last five years have been across sectors such as renewable energy, telecom, road infrastructure and affordable housing and startups, he said at the Credai Natcon 2022, adding that the bilateral relations between the countries have been accelerating with an increase in two-way investments.

"We have made rapid strides in bilateral relations since 2014," the envoy said, adding that the Comprehensive Economic Partnership Agreement (CEPA) signed this year now covers almost 98% of the trade with UAE.

The apex Indian realty body's conference, Credai Natcon 2022 was inaugurated by Sheikh Mohammed bin Nahyan bin Mubarak Al Nahyan, on behalf of his father, Sheikh Nahyan bin Mubarak Al Nahyan, Member of the UAE Cabinet and Minister of Tolerance and Coexistence, at Yas Island Abu Dhabi.

Credai said its members have taken a pledge to be carbon-neutral by 2050, thus making it the first association to facilitate an