I2U2 joint statement: UAE to invest $2 billion to establish integrated food parks across India

New Delhi: Series of food security parks will be established in India with the investment of USD 2 billion by the United Arab Emirates (UAE). The decision was taken during the first leaders' meeting of the I2U2 Group on Thursday. India will provide appropriate land for the project and will facilitate farmers’ integration into the food parks.

"The UAE – home to the International Renewable Energy Agency (IRENA) and host of COP28 in 2023 – will invest $2 billion USD to develop a series of integrated food parks across India," joint statement of the leaders of India, Israel, the UAE and the United State (I2U2) stated.

The integrated food parks in India will incorporate state-of-the-art climate-smart technologies to reduce food waste and spoilage, conserve fresh water, and employ renewable energy sources, the statement stated.

Also, the US and Israeli private sectors will be invited to lend their expertise and offer innovative solutions that contribute to the overall sustainability of the food security project.

"These investments will help maximise crop yields and, in turn, help tackle food insecurity in South Asia and the Middle East," the I2U2 leaders said.

The leaders of I2U2 -- Prime Minister Narendra Modi, US President Joe Biden, Israeli Prime Minister Yair Lapid and UAE President Mohammed bin Zayed Al Nahyan -- held the first virtual summit. During the inaugural I2U2 leaders meeting on Thursday focused on the food security crisis and clean energy. The leaders discussed innovative ways to ensure longer-term, more diversified food production and food delivery systems that can better manage global food shocks.

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

The leaders welcomed India's interest in joining the United States, the UAE, and Israel in the Agriculture Innovation Mission for Climate initiative (AIM for Climate).

With inputs from agencies

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