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ADIA to enter GIFT City, more sovereign funds could follow

Mint Mumbai

|

July 19, 2023

The International Financial Services Centre (IFSC), in Gandhinagar's GIFT City, has secured the backing of the Abu Dhabi Investment Authority (ADIA), which has $853 billion in assets.

- Pavan Burugula

ADIA to enter GIFT City, more sovereign funds could follow

According to a joint statement by India and the UAE last week, ADIA will set up its presence in GIFT City to fortify the investment ties between the two countries. The announcement follows Prime Minister Narendra Modi's visit to the UAE.

However, people familiar with the matter said the partnership with ADIA will diverge significantly from that of other prominent funds that have set up shop in GIFT City.

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