United Arab Emirates has identified key sectors including railways, housing, ports, roads and renewable energy (mainly solar) for investments in India as part of the $ 75 bn announced during Prime Minister’s August trip to the Gulf nation. The selected sectors, where Abu Dhabi Investment Authority (ADIA) would contribute is the main areas where the Indian government is seeking FDI to boost economy. UAE is pushing to begin the process of investments in near future. The Finance Minister also invited large participation and investment in recently constituted National Investment and Infrastructure Fund (NIIF) by the Sovereign Wealth Funds and Pensions Funds of the UAE. He said that the investment in NIIF will ensure good returns on investment as the Government will invest these funds in infrastructure projects. Mr. Jaitley also raised the issue of fresh negotiations among officials of India and UAE for finalizing the terms of reference of the new Bilateral Investment Promotion Agreement (BIPA) as the existing BIPA is expiring by this December. New BIPA will come in existence from next January.