Abu Dhabi Investment Authority commences operations in GIFT City
On 7 October 2024, the Commerce Ministry said the Abu Dhabi Investment Authority, the UAE's largest sovereign wealth fund, has commenced its India operations with an office in GIFT City, Gujarat.
Summary
On 7 October 2024, the Commerce Ministry said the Abu Dhabi Investment Authority (ADIA), the UAE's largest sovereign wealth fund, has commenced its India operations after obtaining regulatory approvals and opening its office in the Gujarat International Finance Tec-City (GIFT City). ADIA's presence in GIFT City was announced during PM Narendra Modi's visit to Abu Dhabi in July 2023, and ADIA later announced setting up an Alternative Investment Fund in GIFT City.
Key facts
- Announced
- 7 Oct 2024
- Entity
- ADIA, UAE's largest sovereign wealth fund
- Office
- GIFT City, Gujarat
- Presence announced
- PM's Abu Dhabi visit, July 2023
Practice MCQs 1 questions
The Abu Dhabi Investment Authority (ADIA), which commenced India operations in October 2024, opened its office in:
Show answer
Correct answer: C — GIFT City, Gujarat
PIB (7 Oct 2024): ADIA, the UAE's largest sovereign wealth fund, has commenced its India operations after opening its office in the GIFT City.