MENA Newswire News Desk: The Abu Dhabi Investment Authority (ADIA) has officially established a subsidiary in India’s Gujarat International Finance Tec-City (GIFT City), marking a significant expansion into one of the world’s fastest-growing economies. The move comes after ADIA received regulatory approval from the International Financial Services Centre Authority (IFSCA), allowing the new entity to operate in India’s premier financial services hub.
According to Sheikh Hamed bin Zayed Al Nahyan, Managing Director of ADIA, the decision to establish a subsidiary in GIFT City aligns with ADIA’s long-standing focus on India. “India has been a key market for our investment activities for several years, given its rapid economic growth. Our portfolio in the country spans multiple asset classes, and we are confident in the long-term potential of India’s economic trajectory,” he said.
The subsidiary in GIFT City, Sheikh Hamed noted, reflects ADIA’s commitment to capitalizing on India’s financial services sector. “GIFT City is rapidly emerging as a world-class financial ecosystem, offering a robust regulatory framework and legal structure, which is essential for our investment strategy,” he added.
ADIA’s new subsidiary will gradually take over certain Indian investments currently managed from other jurisdictions. It will also handle future investments in the country, further solidifying the authority’s presence in India’s financial markets. The Abu Dhabi-based sovereign wealth fund has an extensive portfolio in India, with holdings spread across public and private equity, as well as infrastructure. This diversification underscores ADIA’s confidence in the region’s financial prospects.