On Thursday, the I2U2 formally kicked off at the summit where. Two key takeaways were announced during the meeting, namely a 300 MW hybrid renewable power project in Gujarat and a $2 billion investment by the UAE to develop an integrated food park in India.
As part of the I2U2 Group, a hybrid renewable energy project in Gujarat will utilize 300 MW of wind and solar capacity, coupled with battery energy storage.
The summit included PM Narendra Modi, Israel PM Yair Lapid, UAE President Mohammed bin Zayed Al Nahyan, and Us President Joe Biden. Despite increased global uncertainties, Modi stated that particle groupings are a good model for particle cooperation and called it practical, progressive, and positive.
According to Vinay Kwatra, India’s foreign secretary, the announcement of a food park or a food corridor between India and the United Arab Emirates will have an important impact on crop yields and farmers’ incomes, in addition to enhancing food security in South Asia.
Even as Biden said in his opening remarks that Russia’s “brutal and unprovoked attack against its neighbor” had made growing food insecurity and volatile energy markets worse, the joint statement failed to mention the Ukraine crisis specifically.