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Source: The post is based on the article “India to give land for I2U2-backed food parks” published in The Hindu on 15th July 2022
What is the News?
The leaders of the I2U2 grouping – India, Israel, the UAE and the USA have held their first summit.
What is I2U2 Grouping?
What are the key takeaways from the summit?
Integrated Food Park in India: India will provide land for Integrated Food Parks across the country that will be built in collaboration with Israel, the United States and the United Arab Emirates.
UAE will invest $2 billion in India to create these food parks backed by technology from the US and Israel.
Note: India was chosen as the location for the food project because of its proximity to Israel and the UAE which will help in creating a smooth agriculture supply chain.
Hybrid Renewable Energy Project in Gujarat: I2U2 Group will support a Hybrid Renewable Energy Project in Gujarat consisting of 300 megawatts(MW) of wind and solar capacity complemented by a battery energy storage system.
The project is expected to be another step in India’s quest for 500 GW of non-fossil fuel capacity by 2030.
