Bengaluru Oct 18 PTI Gulf Islamic Investment GII a leading UAE-based Sharia-compliant financial services firm plans to invest Rs 3500 crore in India in the next three years and open its office in Bengaluru Karnataka government said on Monday The company expressed its interest to Karnataka Large and Medium Industries Minister Murugesh Nirani and ITBT Minister C N Ashwath Narayan at the Karnataka pavilion at the Dubai Expo 2020 The GII would open its office here to further strengthen Indo-UAE investment ties Niranis office said in a press release GII has assets worth USD 2 billion under its management the release GIIs decision to foray into Karnataka and open its office in Bengaluru will further strengthen investment ties between India and the UAE Our State is an ideal place to make investments as we ensure ease of doing business and investor-friendly atmosphere Im sure that GIIs presence in Bengaluru will pave the way for more investments trade and creation of jobs Nirani said GII plans to invest USD 500 million Rs 3500 crore in India in the next three years and the company is also planning collaborations with Indian start-ups to boost their Middle-East expansion plans the release added In a joint statement Mohammed Alhassan and Pankaj Gupta founding partners and Co-CEOs of Gulf Islamic Investments said We are delighted to officially announce our plans to establish a GII office in Indias technology capital of Bengaluru India represents a prime investment destination for GII and this expansion demonstrates our commitment to future investments in the countrys burgeoning start-up and high-growth enterprise space Given the success of our preliminary investment rounds through the India Growth Portfolio series valued at over Rs 1000 crores we look forward to expanding our footprint in India and strategically contributing towards enhancing the India- UAE investment corridor they added According to the release Nirani met several business delegations and convinced several companies to make investments in Karnataka The LuLu group Ducab and Electric Way among others promised to make investments in the State He held B2G meetings with representatives of DP World Electric Way company Ducab company Aster DM Healthcare among others it added PTI KSU NVG NVG

Dubai [UAE], October 18 (ANI/NewsVoir): Gulf Islamic Investment (GII), a leading UAE-based Shari'ah-compliant financial services firm with over USD 2 billion of assets under management, today announced its foray into Karnataka, India to strengthen investment ties between India and the UAE. The firm will be opening its office in Bengaluru.