Venture Intelligence (TSJ Media Pvt. Ltd.)
1, Maharani Chinnamba Road; Alwarpet; Chennai - 600018. India.
ADIA to set up $5-B fund at Gujarat’s GIFT City for India investments: report
Abu Dhabi Investment Authority (ADIA), the sovereign wealth fund of the United Arab Emirates (UAE), is setting up a USD 4-5 billion fund to invest in India through Gujarat International Finance Tec-City (GIFT City), a tax-neutral finance hub in Gujarat.ADIA will become the first sovereign wealth fund to begin investing in India via GIFT City.The zone offers a 10-year tax holiday for companies setting up there, no taxes on the transfer of funds from overseas jurisdictions and closeness to Indian markets. ADIA and its wholly-owned subsidiaries have specifically been exempt from long-term capital gains taxes from Indian investments via a special provision introduced in 2020 and applicable till March 2025.
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Venture Intelligence (TSJ Media Pvt. Ltd.)
1, Maharani Chinnamba Road; Alwarpet; Chennai - 600018. India.