UAE to invest $2 bn in food parks across India
The first I2U2 summit involving India, Israel, USA and the UAE was held on Thursday. The UAE announced a two billion dollars worth investment in integrated food parks and a 330 million dollar clean energy projects in India.
Prime Minister Narendra Modi said the pooling of resources and capabilities of India, Israel, the US and the UAE grouping can contribute to the global economy and set the example of practical cooperation.
He also said under the I2U2 framework, the four countries have agreed on increasing the joint investment in six important areas of water, energy, transport, space, health and food security.
“It is clear that the vision and agenda of I2U2 are progressive and practical,” Modi said while addressing the summit of the heads of States of this combine formed last year.
“By mobilising our mutual strength, capital, expertise and markets, we can speed up our agenda and make important contributions to the global economy. Amid increasing global uncertainty, our cooperative framework is also a good model for practical cooperation,” the Prime Minister said while participating virtually in the high-profile event.
The summit was hosted by Israel during the ongoing visit of US President Joe Biden there. Prime Minister of Israel Yair Lapid, President of the UAE Sheikh Mohamed bin Zayed Al Nahyan and President Biden took part in the summit. Highlighting the positive outcome of the summit, the Prime Minister said from the “very first summit, the I2U2 has established a positive agenda. We have identified joint projects in various sectors and prepared a roadmap to go ahead”.