Vision and agenda of I2U2 are progressive, practical, says PM Modi at first leaders' summit: Key points

NEW DELHI: Prime Minister Narendra Modi joined United States President Joe Biden, Israeli PM Yair Lapid and UAE President Mohammed bin Zayed Al Nahyan at the first virtual summit of the four-nation grouping 'I2U2' on Thursday. Today’s inaugural I2U2 leaders meeting focused on food security crisis and clean energy. The leaders discussed innovative ways to ensure longer-term, more diversified food production and food delivery systems that can better manage global food shocks, read a joint statement.
The I2U2 ( "I" standing for India and Israel, and "U" for the US and the UAE) grouping was conceptualised during the meeting of the foreign ministers of the four countries held on October 18 last year.Also, India's bilateral strategic ties with each of the three countries are on an upswing for the last few years.
Here are the key points-
'Good model for practical cooperation amid global uncertainties'
Prime Minister Narendra Modi, addressing the leaders' meeting of the I2U2 Group, said from this very first summit, I2U2 has established a positive agenda. "Our cooperative framework is a good model for practical cooperation in face of increasing global uncertainties," said PM Modi at I2U2 summit, adding, "We have identified joint projects in various sectors and prepared a roadmap to go ahead."

He further said under the I2U2 framework, joint investment will be increased in six important areas of water, energy, transport, space, health and food security. "It is clear that the vision and agenda of I2U2 are progressive and practical," said PM Modi, adding by mobilising the mutual strength, capital, expertise and markets, the agenda can be sped up. "We can make important contributions to the global economy. Amid increasing global uncertainty, our cooperative framework is also a good model for practical cooperation," said PM Modi.
'We can do a great deal if we stick together'
Accepting that "there is a vacuum" right now, US President Joe Biden said this group is going to work to identify new infrastructure projects over the next three years. "This group is going to work to identify new infrastructure projects that we can invest in and develop together. We can do a great deal if we stick together," said US President Biden.
He also raked up Ukraine war during the meeting. "The challenges we face today include accelerating climate crisis and growing food insecurity. Volatile energy markets have been made worse by Russia's brutal and unprovoked attack against Ukraine," said US President Biden.
'We want to change the world for the better'
Israel PM Lapid said the real solutions will only come through countries who know how to bring together resources. "We want to change the world for the better. Our goal is to have the private market as a partner. Despite being four different countries, it's clear that all of us want the same thing: infrastructure development, quality education for children... reducing damage inflicted on environment," said Israel PM Lapid.
UAE to invest $2 billion to develop integrated food parks across India
The United Arab Emirates will invest USD 2 billion to develop a series of integrated food parks across India under the framework of the four-nation grouping. The decision was announced in the joint statement released during the the first virtual summit of the leaders of the grouping.

The joint statement said India will provide appropriate land. "India will provide appropriate land for the project and will facilitate farmers' integration into the food parks. The US and Israeli private sectors will be invited to lend their expertise and offer innovative solutions that contribute to the overall sustainability of the project," the I2U2 statement said, adding the investments will help maximise crop yields and, in turn, help tackle food insecurity in South Asia and the Middle East.
The leaders expressed their determination to leverage well-established markets to build more innovative, inclusive, and science-based solutions to enhance food security and sustainable food systems, the joint statement said.
Hybrid renewable energy project in Gujarat
The statement also said the I2U2 group will advance hybrid renewable energy project in Gujarat consisting of 300 megawatts of wind and solar capacity, for which the US Trade and Development Agency funded a feasibility study. Meanwhile, UAE-based companies are exploring opportunities to serve as critical knowledge and investment partners for the $330 million project, added the statement. "Israel and the United States intend to work with the UAE and India to highlight private sector opportunities. Indian companies are keen to participate in this project and contribute to India’s goal of achieving 500 GW of non-fossil fuel capacity by 2030. Such projects have the potential to make India a global hub for alternate supply chains in the renewable energy sector," read the joint statement.
Other highlights
The leaders also welcomed India’s interest in joining the United States, the UAE, and Israel in the Agriculture Innovation Mission for Climate initiative (AIM for Climate). They affirmed that these are only the first steps in a long-term strategic partnership to promote initiatives and investments that improve the movement of people and goods across hemispheres, and increase sustainability and resilience through collaborative science and technology partnerships.
The I2U2 also welcomed other new groupings of countries, such as the Negev Forum for regional cooperation, that recognise the unique contributions of each partner country, including Israel’s ability to serve as an innovation hub connecting.
(With inputs from agencies)