UAE to Invest $2 Billion to Improve Food Security and Clean Energy in India
The investment will develop high-tech integrated food parks and a 300 MW hybrid renewable energy project in the subcontinent
The main topic of focus in the latest I2U2 – which stands for India, Israel, the United Arab Emirates (UAE), and the US – group meeting was food security and clean energy. During the meeting, India, Israel, UAE, and the US formed a positive agenda and discussed innovative ways to work on better food delivery and food production systems. The new global framework model is appropriate to deal with global uncertainties when it comes to food security.
Two initiatives were mentioned during the meeting: one is the UAE’s big $2 billion investment to develop a series of high-tech integrated food parks throughout India, and the other is to work on a hybrid renewable energy project in the Indian state of Gujarat. The project will consist of 300 MW of wind and solar capacity.
The four leaders – US President Joe Biden, UAE President Mohammed bin Zayed Al Nahyan, Israeli Prime Minister Yair Lapid, and Indian Prime Minister Narendra Modi (who attended the summit virtually) – mentioned that this meeting would lead to a positive impact on the areas of food security, energy security, and economic growth.
The four nations have agreed to elevate their joint investment in around six critical areas of energy, water, transportation, space, health, and food security as per the I2U2 framework. With this practical framework, the member countries can join and accelerate their agendas to contribute to the global economy.
India will offer sufficient land for this project and also facilitate farmers’ integration within the food parks. The Israeli and US private sectors will also lend their expertise to offer advanced solutions for the success of this global project. With the help of the investments, these countries could increase crop yields and even tackle food insecurity in the Middle East and South Asia.
Moreover, the advanced hybrid renewable energy project with 300 megawatts of wind and solar energy capacity will be set up in Gujarat. With this project, there will be more improvement in green, clean energy production and distribution in India.
These are just the first steps in the long-term partnership for promoting investments and initiatives to improve the movement of goods and people across the globe. It will also be a start to increase resilience and sustainability through collaborative technology partnerships. With these initiatives, India will expand its food exports and trades across the Arab-Mediterranean corridor.
Via: Business Standard