I2U2 will make a significant contribution to energy, food security and economic growth, says PM Modi

The inaugural meeting focused on the crisis of food security and clean energy. Leaders discussed innovative ways to ensure more diverse, longer-term food production and delivery systems that can better manage global food shocks.

Prime Minister Narendra Modi joined US President Joe Biden, Israeli Prime Minister Yair Lapid and United Arab Emirates President Mohammed bin Zayed Al Nahyan on Thursday at the first virtual summit of the four-nation “I2U2” grouping. Twitter/@yairlapid

New Delhi: Prime Minister Narendra Modi joined US President Joe Biden, Israeli Prime Minister Yair Lapid and United Arab Emirates President Mohammed bin Zayed Al Nahyan on Thursday at the first virtual summit of the four-nation “I2U2” grouping.

The inaugural meeting focused on the crisis of food security and clean energy. Leaders discussed innovative ways to ensure more diverse, longer-term food production and delivery systems that can better manage global food shocks.

Narendra Modi address

Addressing the summit virtually, the prime minister said the framework has set a positive agenda and is a good model for practical cooperation in the face of growing global uncertainties.

He stressed that the West Asia Quad grouping “will make a significant contribution to global energy security, food security and economic growth.”

“Since that very first summit, I2U2 has established a positive agenda. We have identified joint projects in various sectors and prepared a roadmap for moving forward,” Modi said.

“Our cooperation framework is also a good model for practical cooperation in the face of growing global uncertainties,” he added.

In his remarks at the meeting, Modi said that “under I2U2, we have agreed to increase joint investment in six important areas of water, energy, transport, space, health and food safety”.

The Prime Minister called I2U2’s vision and program “progressive and practical”.

Joint statement

Following the address, it was announced that a series of food security parks will be established in India with an investment of $2 billion by the UAE and India will provide suitable land for the project and facilitate the integration of farmers into food parks.

In addition, the American and Israeli private sectors will be invited to contribute their expertise and propose innovative solutions that contribute to the overall sustainability of the food security project.

The joint statement also states that the I2U2 group will advance the hybrid renewable energy project in Gujarat consisting of 300 megawatts of wind and solar capacity.

Quad for Western Asia

The virtual summit of India, Israel, the United Arab Emirates and the United States dubbed “I2U2” is projected as the Quad for Western Asia. I2U2 aims to encourage joint investments in six mutually identified areas such as water, energy, transport, space, health and food security.

The I2U2 grouping was conceptualized at the meeting of foreign ministers of the four countries held on October 18 last year. “Each country also has regular Sherpa-level interactions to discuss possible areas of cooperation,” the MEA said.

It aims to mobilize private sector capital and expertise to help modernize infrastructure and low-carbon development pathways for our industries, improve public health, and promote the development of critical emerging and green technologies.

The leaders will discuss possible joint projects within the framework of I2U2 as well as other common areas of mutual interest to strengthen the economic partnership in trade and investment in the respective regions and beyond.

With the contribution of the agencies

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