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FINANCIAL NEWS
India, UAE set USD75m infrastructure fund
18 Aug 2015
(MENAFN) India and the UAE announced that they are taking their economic relations to a new level, setting up a USD75 billion infrastructure fund and to boost bilateral trade by 60 percent in five years.
The new fund has been designed to support the expansion of India’s network of railways, ports, roads, airports and industrial corridors, and plans for rapid expansion of next-generation infrastructure.
The UAE is already India’s third-largest trade partner and home to more than 2.5 million Indians. India told investors in Abu Dhabi that it needs USD1 trillion in investments in areas from real estate to energy and tourism.
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