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I2U2 Summit : UAE to develop integrated food parks across India

Tags: Popular International News

The United Arab Emirates on July 14 announced an investment of USD 2 billion to develop a series of integrated food parks across India.

Outcome of the Summit

  • The decision was announced after the first virtual summit of I2U2 group leaders - Prime Minister Narendra Modi, US President Joe Biden, Israeli Prime Minister Yair Lapid and UAE President Mohamed bin Zayed Al Nahyan.

  • The Summit was focussed on the food security crisis and clean energy.

  • 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.

  • The Summit discussed innovative ways to ensure sustainable, more diverse food production and food delivery systems that can better manage the global food crisis.

  • The I2U2 group will take forward a 300 MW hybrid renewable energy project in Gujarat with wind and solar capacity.

  • This was the first summit of this group.

Significance 

  • Integrated food parks will incorporate cutting-edge climate-smart technologies to conserve waste, fresh water and employ renewable energy sources in food.

  • India will provide suitable land for the project and facilitate integration of farmers into food parks. 

  • These investments will help in maximizing crop yields and combating food insecurity in South Asia and the Middle East.

What is the 'I2U2' group?

  • The I2U2 is a group comprising India, Israel, the U.S., and the UAE, has been called the ‘West Asian Quad’. 

  • The group is known as 'I2U2' with "I" standing for India and Israel and "U" for the US and the UAE.

  • This view was expressed by U.S. National Security Adviser Jake Sullivan with U.S. President Joe Biden.

  • The I2U2 grouping was conceptualized during the meeting of foreign ministers of four countries held on 18 October 2021.

Aims of I2U2 Group

  • I2U2 aims to harness the vibrancy and entrepreneurial spirit of society to address some of the biggest challenges facing the world.

  • It aims to encourage joint investment in six mutually recognized sectors such as water, energy, transport, space, health and food security.

  • Appropriate use of private sector capital and expertise to help drive infrastructure modernization, low-carbon development pathways for industries, improve public health, and the development of critical emerging and green technologies.

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