UAE-Based GII Signs MoU with Government of Karnataka; UAE-India Ties to Strengthen

United Arab Emirates (UAE)-based Gulf Islamic Investment (GII) has signed a memorandum of understanding (MoU) with the Government of Karnataka, India, to draw investments and further develop trade.

Why it Matters?

GII’s entry into India via an office in Bengaluru (capital of the Karnataka state) would further strengthen investment relations between India and the UAE, and it has plans to invest USD 500 million in the country over the next three years. It is also intending to engage with Indian start-ups to uplift their Middle East expansion plans. Murugesh Nirani, Minister of Large and Medium Industries of the Government of Karnataka, noted that GII’s presence in Bengaluru will pave the way for more investments, trade and job creation.

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