Jaitley seeks invests for Infra fund from UAE
17 Nov 2015
Finance Minister Arun Jaitley has solicited investments from the Abu Dhabi Investment Authority (ADIA) for the National Infrastructure Investment Fund.
Jaitley told Sheikh Hamed Bin Jayed Al Nahyan, managing director and director, ADIA, that NIIF would attract good returns on the investment made by the sovereign wealth funds of different countries.
Sheikh Nahyan, who showed interest in investing in NIIF, said that his officials would visit India on the 19th of this month to explore investing in India.
He also said that ADIA was also interested in investing in establishing strategic oil reserves at Mangalore Port in Karnataka.
Jaitley presented a detailed account about the various initiatives taken by the government in the last one and a half year for foreign direct investment (FDI) in the country.
The Finance Ministersaid that as a result of these measures, FDI inflows increased by 40 per cent during the current year as compared to the previous year.
He specifically mentioned the various FDI reforms taken recently by the government for attracting foreign investment in sectors such as railways,defence, services and manufacturing.
Jaitley said that NIIF would be professionally managed and mainly invest in commercially viable infrastructure projects.