New Delhi: Prime Minister Narendra Modi said that the ‘Energy Security, Food Security and Economic Development’ agenda came up in the very first meeting of I2U2. Considering the instability on the global level, I2U2 has presented in front of the world the framework for active cooperation between countries. A Virtual meeting of the heads of state of India, Israel, United Arab Emirates (UAE) and the United States was held on Thursday. Prime Minister Modi welcomed this cooperation. In this first meeting, investments worth billions of dollars in the food security and energy sectors was declared.
India, Israel, UAE and the United States have concurred on joint investments in six critical sectors under the I2U2. Prime Minister Modi informed that these include water, energy, transport, space, health and food security. Prime Minister Modi expressed confidence that I2U2 can make a massive contribution to the development of the global economy using the capacity, capital, skills and markets of the participating countries.
It was agreed during the meeting that I2U2 would make a significant investment in the Hybrid Renewable Energy project in Gujarat. At the same time, UAE, a part of I2U2, announced an investment of USD 2 billion to build an ‘Integrated Food Park’ in India. Therefore, the claim made by analysts that the I2U2 will hugely benefit India seems to be becoming a reality.
Meanwhile, it is claimed that I2U2 is nothing but Asian QUAD. Former Israeli National Security Advisor had said that the Indian participation in the I2U2 will be a game changer. The Indian influence on the Gulf countries has been increasing since the last few years. Former Israeli National Security Advisor had expressed confidence that India can advocate the importance of cooperation with Israel, more effectively to the Gulf countries.
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