Indian finance minister to eye incoming investments on UAE trip

NEW DELHI // The finance minister Arun Jaitley started a three-day visit to the UAE on Sunday, with an eye on attracting government and private-sector investments into India.

“I think, there are two objectives of this [visit]. Besides interacting with the governments, you interact with the investors. You give them an idea about the kind of opportunities which are available [in India], the reforms which have taken place and the road map which is available for the future,” Mr Jaitley told The National.

He said he envisaged the Abu Dhabi Investment Authority (Adia) as a potential investor in Asia’s third-largest economy.

“I think, they [Adia] can invest in infrastructure, they can invest in manufacturing, they can invest in services, they can invest in the National Infrastructure Investment Fund. These are all growing areas,” said Mr Jaitley. He is set to meet Adia’s managing director Sheikh Hamed bin Zayed Al Nahyan in Abu Dhabi this week.

On Monday, Mr Jaitley is scheduled to call on Sheikh Mohammed bin Rashid Al Maktoum, Vice President of the UAE and Ruler of Dubai, in Dubai. He will also be participating in the UAE-India Economic Forum there.

On Tuesday, Mr Jaitley will call on Sheikh Mohammed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces.

Mr Jaitley’s visit follows the prime minister Narendra Modi’s trip to the UAE in August.

The UAE leadership at the time promised to invest $75 billion in India through the establishment of a UAE-India infrastructure fund.

Follow The National’s Business section on Twitter

Share This Post