The Abu Dhabi Investment Authority (ADIA) has established a subsidiary at the Gujarat International Finance Tec-City (GIFT City), India’s international financial services centre.

The subsidiary has been granted regulatory approval by the International Financial Services Centre Authority (IFSCA) and is now operational.

H.H. Sheikh Hamed bin Zayed Al Nahyan, Managing Director of ADIA, said, “India is one of the world’s fastest growing economies and has been a key focus for ADIA’s investment activities for a number of years. We have built an extensive portfolio that spans asset classes, and we remain confident in India’s long term growth prospects.

“Establishing ADIA’s subsidiary at GIFT City underlines our belief in the opportunities presented by India’s continued growth. GIFT City is creating a dynamic, world-class financial services ecosystem, operating under a strong regulator and a robust legal framework.”

ADIA will undertake a phased transfer of certain existing Indian investments to its GIFT City subsidiary, which will also hold future Indian investments.

ADIA invests across major asset classes in India, including significant holdings in public and private equity, and infrastructure.