India has close economic and diplomatic ties in the Middle East. They just got stronger.
Abu Dhabi Investment Authority (ADIA) invested US$ 806.28 million in Jio Platforms, taking the total capital raised by its digital services subsidiary to around US$ 14.19 billion in just seven weeks.
The UAE is India’s third largest trading partner and more than three million Indians live in the Emirates.
So far, Jio Platforms has raised US$ 13.89 billion from seven marquee global investors.
ADIA, which is a globally diversified investment institution, invests funds on behalf of the government of Abu Dhabi through a strategy focused on long-term value creation. It has made several investments in India, mostly through its private equities department.
Jio Platforms is at the forefront of India’s digital revolution.
Jio, with 388 million users, combines all of RIL’s digital and telecom initiatives, including Jio digital services, mobile and broadband, apps, tech capabilities such as artificial intelligence, Big Data, and Internet of Things, and other investments such as in Den Networks, Hathway Cable, and Datacom.