UAE investments in India crosses $10bln, says Indian Ambassador at apex Indian realty body conference

UAE investments in India crosses $10bln, says Indian Ambassador at apex Indian realty body conference

Abu Dhabi: The UAE sovereign wealth funds have invested over US$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.

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 rise 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 per cent of the trade with the UAE

The CREDAI’s NATCON 2022 at Yas Island Abu Dhabi was inaugurated by H.E Sheikh Mohammed bin Nahyan bin Mubarak Al Nahyan, on behalf of his father, H.E Sheikh Nahyan bin Mubarak Al Nahyan, Member of the UAE Cabinet and Minister of Tolerance and Coexistence.

The apex realty body at the event announced that its members have taken a pledge to be carbon-neutral by 2050. The pledge makes CREDAI the