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NEW DELHI: The announcement about food parks at the first I2U2 summit, or what was also described as a India-UAE ‘food corridor’ backed by technology from Israel and the US is significant for India, foreign secretary Vinay Kwatra said, as it is expected to increase crop yields and farmers’ income while enhancing overall food security in south Asia.
The UAE — home to the International Renewable Energy Agency (IRENA) and host of COP28 in 2023 — will invest $2 billion to develop a series of integrated food parks across India that will incorporate state-of-the-art climate-smart technologies to reduce food waste and spoilage, conserve fresh water, and employ renewable energy sources, said the joint statement.
“India will provide appropriate land for the project and will facilitate farmers’ integration into the food parks. US and Israeli private sectors will be invited to lend their expertise and offer innovative solutions that contribute to the overall sustainability of the project. These investments will help maximise crop yields and, in turn, help tackle food insecurity in South Asia and the Middle East,” it added.
The I2U2 (India and Israel making up the 2Is and US and UAE making up the 2Us) was conceptualised during the meeting of the foreign ministers of the four countries in October last year.
According to the joint statement, the I2U2 group will “advance” a hybrid renewable energy project in Gujarat consisting of 300 MW of wind and solar capacity, complemented by a battery energy storage system. “The US Trade and Development Agency funded a feasibility study for the $330 million project. UAE-based companies are exploring opportunities to serve as critical knowledge and investment partners,” said the joint statement.
PM Modi said that I2U2 was truly a meeting of strategic partners and called for mobilising the mutual strengths of the memberstates — capital expertise and markets — to make an important contribution to the global economy. “In the midst of increasing global uncertainties, our cooperative framework is also a good model for practical cooperation. I am sure that with the I2U2, we will make an important contribution at a global level in the areas of energy security, food security and economic growth,” he said.With the meeting focused on food security 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 UAE — home to the International Renewable Energy Agency (IRENA) and host of COP28 in 2023 — will invest $2 billion to develop a series of integrated food parks across India that will incorporate state-of-the-art climate-smart technologies to reduce food waste and spoilage, conserve fresh water, and employ renewable energy sources, said the joint statement.
“India will provide appropriate land for the project and will facilitate farmers’ integration into the food parks. US and Israeli private sectors will be invited to lend their expertise and offer innovative solutions that contribute to the overall sustainability of the project. These investments will help maximise crop yields and, in turn, help tackle food insecurity in South Asia and the Middle East,” it added.
The I2U2 (India and Israel making up the 2Is and US and UAE making up the 2Us) was conceptualised during the meeting of the foreign ministers of the four countries in October last year.
According to the joint statement, the I2U2 group will “advance” a hybrid renewable energy project in Gujarat consisting of 300 MW of wind and solar capacity, complemented by a battery energy storage system. “The US Trade and Development Agency funded a feasibility study for the $330 million project. UAE-based companies are exploring opportunities to serve as critical knowledge and investment partners,” said the joint statement.
PM Modi said that I2U2 was truly a meeting of strategic partners and called for mobilising the mutual strengths of the memberstates — capital expertise and markets — to make an important contribution to the global economy. “In the midst of increasing global uncertainties, our cooperative framework is also a good model for practical cooperation. I am sure that with the I2U2, we will make an important contribution at a global level in the areas of energy security, food security and economic growth,” he said.With the meeting focused on food security 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”.
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