Gulf Islamic Investment to invest Rs. 3500 crores in Bengaluru in next three years
Dubai: In a big push to attract investments and boost trade, the Government of Karnataka has signed a Memorandum of Understanding with the Gulf Islamic Investment group.
The Group expressed interest and exchanged with Large and Medium Industries Minister Murugesh Nirani and IT&BT minister CN Ashwath Narayan on Monday at the Karnataka pavilion here at DubaiExpo 2020 event. The GII will open its office in Bengaluru to further strengthen Indo-UAE investment ties.
Gulf Islamic Investment (GII) is a leading UAE-based Sharia-compliant financial services firm with over $2 billion of assets under management. Minister Murugesh Nirani expressed happiness over the pact. “GII’s decision to foray into Karnataka and open its office in Bengaluru will further strengthen investment ties between India and UAE. Our state is an ideal place to make investments as we ensure ease of doing business and investor-friendly atmosphere. I’m sure that GII’s presence in Bengaluru will pave way for more investments, trade and creation of jobs,” Nirani said.
GII plans to invest USD 500 mn (INR 3,500 crore) in India in the next 3 years. The company is also planning collaborations with Indian startups to boost their Middle East expansion plans.
Expressing his happiness, Dr Aman Puri, Consul General of India, Dubai, termed Karnataka startup capital of Asia and added that Bengaluru is home to 40% of India’s unicorns. He said UAE is a big partner in India’s quest to become an US$ 5 trillion economy.
In a joint statement, Mr. Mohammed Alhassan and Mr. 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 India’s technology capital of Bengaluru. India represents a prime investment destination for GII and this expansion demonstrates our commitment to future investments in the country’s 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 INR 1,000 Crores, we look forward to expanding our footprint in India and strategically contributing towards enhancing the India- UAE investment corridor”.
Minister Murugesh Nirani with his packed schedule met several business delegations and succeeded in convincing several companies to make investments in Karnataka. The LuLu group, Ducab and Electric Way among others promised to make investments in the state.
During the day Nirani also held B2G (Business-to-Government) meeting with Gaurav Khanna, Vice President, Group Corporate Finance & Business Development of DP World; Atheeqe Ansari CEO of Electric Way company, a leader in the region for distribution of cables, industrial lighting fixtures and electrical systems and Mohammad A. Al Qurashi, General Manager, Government Affairs, Ducab company which is a leader in the design & manufacture of copper, aluminium wire & cable products and also Sreenath P Reddy of Aster DM Heathcare.
Let the Truth be known. If you read VB and like VB, please be a VB Supporter and Help us deliver the Truth to one and all.
London, Nov 22: A bomb disposal squad deployed as a “precaution” to the South Terminal of Gatwick Airport concluded an investigation into a "security incident" on Friday after making a “suspect package” safe.
The South Terminal of Gatwick Airport, the UK's second busiest airport after Heathrow, which was briefly shut owing to the incident reopened following the incident.
The Gatwick is around 45 km south of London.
Two people detained during the enquiries have since been allowed to continue their journey as the airport was opened.
“Police have concluded their investigation into a report of a suspect package at Gatwick Airport. Officers from the EOD (Explosive Ordnance Disposal) team made the package safe, and the airport has been handed back to its operator,” Sussex Police said in an updated statement.
“Two people detained while enquiries were ongoing have subsequently been allowed to continue their journeys. There will remain an increased police presence in the area to assist with passengers accessing the South Terminal for onward travel,” the statement added.
Earlier on Friday, the incident caused severe disruption at the busy airport’s South Terminal, while the North Terminal of Gatwick Airport remained unaffected.
“Police were called to the South Terminal at Gatwick Airport at 8.20 am on Friday (November 22) following the discovery of a suspected prohibited item in luggage,” a Sussex Police statement said.
“To ensure the safety of the public, staff and other airport users, a security cordon has been put in place whilst the matter is dealt with. As a precaution, an EOD (Explosive Ordnance Disposal) team is being deployed to the airport. This is causing significant disruption and some roads around the South Terminal have been closed. We’d advise the public to avoid the area where possible,” it said.
Footage on social media taken outside the airport showed crowds of frustrated travellers being moved away from the terminal building.
Gatwick said it was working hard to resolve the issue.
“A large part of the South Terminal has been evacuated as a precaution while we continue to investigate a security incident," the airport said in a social media post.
“Passengers will not be able to enter the South Terminal while this is ongoing. The safety and security of our passengers and staff remain our top priority. We are working hard to resolve the issue as quickly as possible.”
Train and bus services that serve the airport were also impacted while the police carried out their inquiries.
In an unrelated incident in south London on Friday morning, the US Embassy area in Nine Elms by the River Thames was the scene of a controlled explosion by Scotland Yard dealing with what they believe may have been a “hoax device”.
“We can confirm the 'loud bang' reported in the area a short time ago was a controlled explosion carried out by officers,” the Metropolitan Police said in a post on X.
“Initial indications are that the item was a hoax device. An investigation will now follow. Some cordons will remain in place for the time being but the majority of the police response will now be stood down,” it added.
