As the new Modi government tightens up bureaucratic systems with new initiatives to facilitate business, recognizing India’s potential for investment, the United Arab Emirates is tapping new opportunities and encouraging the kingdom's investment institutions to open their coffers in India. A major step in this direction is the establishment of a $75-billion UAE-India Infrastructure Investment Fund during the Aug. 17 meeting of Prime Minister Narendra Modi with UAE Crown Prince Mohamed Bin Zayed Al Nahyan.
The fund will support investment in India’s plans for rapid expansion of next-generation infrastructure, especially in railways, ports, roads, airports and industrial corridors and parks. Renewable-energy projects also are expected to figure, with focus on the International Conference on Climate Change in Paris in Decemeber 2015, which should produce an effective agreement that will include provision of means and technologies to developing countries to transition to clean energy.