I2U2 Summit: UAE to invest $2 billion to develop integrated food parks across India

Under whose framework the United Arab Emirates will invest $2 billion to develop a series of integrated food parks across India? Group of four countries ‘I2U2’,

The decision was announced after the first virtual summit of the group’s leaders – Prime Minister Narendra Modi, US President Joe Biden, Israeli Prime Minister Yair Lapid and UAE President Mohamed bin Zayed Al Nahyan.

I2U2 leaders’ meeting focused on food security crisis, says a joint statement and clean energy and that they discussed innovative ways to ensure sustainable, more diverse food production and food delivery systems.

The grouping is known as ‘I2U2’, with “I” for India and Israel and “U” for the US and the United Arab Emirates.,

On the project related to the food park, it has been said in the statement that India will provide suitable land.

“India will provide suitable land for the project and facilitate integration of farmers into food parks. Private sectors from the US and Israel will be invited to lend their expertise and provide innovative solutions that contribute to the overall sustainability of the project. ,” I2U2 said.

It said the investment would help maximize crop yields and, in turn, help tackle food insecurity in South Asia and the Middle East.

The statement also said that the I2U2 group will take forward a hybrid renewable energy project with 300 MW wind and solar capacity in Gujarat.

The leaders also expressed their determination to leverage well-established markets to build more innovative, inclusive and science-based solutions to enhance food security.

I2U2 aims to harness the vibrancy and entrepreneurial spirit of our societies to tackle some of the biggest challenges facing our world, the statement said.

The I2U2 grouping was conceptualized during the meeting of foreign ministers of four countries held on 18 October last year.

India’s bilateral strategic relations with each of the three countries have grown rapidly over the years.