Dubai World, a government-owned holding company, will invest Dh 29 billion ($7,896,091,358) in setting up industrial parks in different parts of the world, including India.

The company launched Economic Zones World, an enterprise aimed at consolidating its position in the development and management of economic zones and business hubs across the world, on Monday.

"Economic Zones World has been created as a single commercial entity to look after the Dubai World's worldwide operations of free zones, special economic zones and activity-specific business and industrial zones," said Sultan Ahmed Bin Sulayem, Chairman Dubai World.

"The comopany already has several projects under discussion in India, Pakistan, Oman, South Korea and Morocco," Salma Hareb, CEO of Economic Zones World said.

"With its current first-ever position and strong platform, Economic Zones World is all set to achieve long term growth and profitability in its Dubai based and in international operations," she said.