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India, U.A.E. Plan $75 Billion Fund as Modi Seeks Investment

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The United Arab Emirates and India plan to create a $75 billion fund to invest in Indian infrastructure, according to a joint statement at the end of Prime Minister Narendra Modi’s visit on Monday.

The fund will support the expansion of India’s network of railways, ports, roads, airports and industrial corridors. The countries also aim to increase trade by 60 percent in the next five years.