UAE sovereign wealth fund invested over USD 10 billion in last 5 years in India: Ambassador of India to UAE

Indian Ambassador to UAE Sunjay Sudhir (Image: ANI)

UAE believes in India's growth story and its sovereign wealth funds have invested more than USD 10 billion in India, said Sunjay Sudhir, Ambassador of India to UAE.

Addressing realtors' apex body CREDAI's annual conference 'NATCON 2022' in Abu Dhabi, Sudhir asked builders to learn from the experience of UAE real estate companies and also explore forming partnership with them.

He emphasised that Indian companies are also investing in UAE in a big way across many sectors including energy.

"Our bilateral relations offer you the opportunity to partner with UAE companies in a big way and also to learn from their experiences," said Sudhir, who joined the Indian Foreign Service in 1993.

India-UAE partnership is accelerating fast, he added.

"We see this reflected in investments made in India by leading UAE companies in last several years.

"In last five years alone, more than 10 billion dollar have been invested by UAE sovereign wealth fund across renewable energy, telecom, road infrastructure, affordable housing and startups," Sudhir said.

Stating that this is a two-way investment, the ambassador said that Indian companies are also investing in UAE.

Sudhir said there is a very special interest in affordable housing as partnership with HDFC and Kotak group are being strengthened.

The UAE trusts India's growth story, he said, and this provides a lot of opportunities for growth for Indian businesses.

Sudhir said the bilateral relations between India and UAE have made a rapid stride in the last eight years.

CREDAI has over 13,000 developers as its members.

The three-day conference is being attended by over 1,300 developers from India.