India to give land for I2U2-backed food parks

Source: The post is based on the article “India to give land for I2U2-backed food parkspublished 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?

Click Here to read about it

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.

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