Questions about I2U2 | Trade Standard Editorials
The virtual meeting of leaders from India, Israel, the United States and the United Arab Emirates (UAE), under a new partnership called I2U2, reflects the opportunities and challenges for India. I2U2 straddles a major regional fault line and marks an important signaling exercise by the four countries. Reflecting the latest detente via the US-brokered Abraham Accords, which aim to normalize relations between Israel, the UAE, Bahrain and Morocco after decades, it offers India a chance to broaden and deepen the already cordial political and economic relations with Israel and the United Arab Emirates and balance them with other Gulf countries with its large Indian diaspora. The grouping has defined six areas of cooperation for joint investments in the fields of water, energy, transport, space, health and food security. India reaped the first benefits with the UAE’s announcement of a $2 billion investment to develop food parks in the country. The consortium has also committed to invest in a 300 Mw hybrid renewable energy project (wind and solar) in Gujarat.
TO READ THE FULL STORY, SUBSCRIBE NOW FOR JUST RS 249 PER MONTH.
Key stories on business-standard.com are only available to premium subscribers.
Already a premium subscriber? LOGIN NOW
SUBSCRIBE TO PERSPECTIVES
What do you get on Business Standard Premium?
First published: Sunday, July 17, 2022. 9:43 p.m. IST