Managing Director of Abu Dhabi Investment Authority (ADIA) Sheikh Hamed bin Zayed Al Nahyan (right) calling on Union Minister for Commerce and Industry Anand Sharma prior to delegation level talks in New Delhi on Monday.

Accompanied by a large delegation, Sheikh Hamed been hosted in New Delhi by Anand Sharma, Minister of Commerce, Industry and Textiles.

India invited Abu Dhabi Investment Authority (ADIA), world's largest sovereign wealth funds, to invest in the $90-billion ambitious Delhi Mumbai Industrial Corridor (DMIC) and other infrastructure funds.

Both countries also agreed to set up a joint working group to facilitate investment for this purpose. The issue was discussed between Commerce and Industry Minister Anand Sharma and Abu Dhabi Investment Authority (ADIA) Managing Director Sheikh Hamed bin Zayed Al Nahyan on talks held on January 16, attended By Mohamed Sultan Abdalla Al Owais, Ambassador of the UAE to India.

Sheikh Hamed also met senior central ministers including finance minister Pranab Mukherjee, External Affairs minister S M Krishna, Urban Development Minister Kamal Nath, Rural Development Minister J Ramesh and communication & IT minister Kapil Sibal.

India and the UAE enjoy time-tested relations, and currently they are the largest trading partners for each other. According to Indian figures, bilateral trade was $67 billion (Dh245.89 billion) last year.