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Abu Dhabi Looks to Invest in India
The Abu Dhabi Investment Authority (ADIA) is looking to invest in a big way into India, reports said. The ADIA was established in 1976 is world’s largest sovereign wealth fund with investible funds worth $700 billion. It is a globally diversified investment institution, which is wholly owned by the Government of Abu Dhabi.
In meetings with the Union Minister of Commerce and Industry, Mr Anand Sharma and Mr Kamal Nath, Urban Development Minister, the Managing Director of ADIA, Sheikh Hamed bin Zayed Al Nahyan expressed a strong desire to invest in India. Minister Nath invited ADIA to participate in the creation of Urban Infrastructure in India that would create a win-win situation for both the countries. Both sides agreed that bilateral ties in the urban sector do not reflect the full potential and must be further exploited to the mutual advantage of both the countries.
Given the global investment scenario, both sides agreed that UAE and India should work towards a much greater engagement in urban infrastructure sector. ADIA has already decided to invest towards the creation of seven new cities in six states.
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India-Mauritius to Work on Renewable Energy
India has offered help to Mauritius in developing its renewable energy sector. The Minister of New and Renewable Energy, Dr. Farooq Abdullah, during a recent visit to Mauritius called on the Prime Minister of Mauritius, Dr. Navinchandra Ramgoolam, and had bilateral meetings with Deputy Prime Minister and Minister of Energy, Dr. Ahmed Rashid Beebeejaun, and other Ministers of Mauritius.
Dr. Abdullah offered assistance to the island nation in tapping its renewable energy resources including wind, solar and geo-thermal. Dr. Abdullah also offered to scale up Indian initiatives in capacity building and support in design and policy framework for renewable energy initiative in that country.
References: Hindustan Times, Times of India, The Hindu, Economic Times, Business Standard, Business line, India Today.