The India-Middle East food corridor is an initiative that promises to transform and revolutionize the diplomatic, trade, and economic relations between India and the Middle East.
In this episode, we will explore the origins of the food corridor and its organic development.
The first I2U2 meeting between the leaders of the countries was done via video conferencing during President Joe Biden’s visit to Israel. The I2U2 meeting was part of the US President’s four-day visit to Israel. The meeting was held by India’s Prime Minister Narendra Modi, US President Joe Biden, UAE’s President Mohammed bin Zayed al-Nahyan and Israeli Prime Minister Yair Lapid.
President Biden sought to promote a joint investment in the energy, food, water, health, transportation, and space sectors. While for the US it is the beginning of a new relationship, for the three Asian countries, it is nothing new.
An article published by the Middle East Institute mentions the following:
“…Joint investments in the first four of these sectors have been occurring between the UAE and India as well as between Israel and India over the past 5-10 years and already underpin the food corridor project. The signature initiative of the I2U2 summit is the UAE’s $2 billion investment in the construction of food parks in India that will utilize Israeli and U.S. climate-smart agritech, clean tech, and renewable energy technologies…”
The development of the India-Middle East Food Corridor originated from the idea of ensuring the food security of the Arab Gulf States and India’s desire to enhance the value of its food production. By calorie content measure, India is the second-largest food producer; however, it stands fourth when the total value of food production is measured. India wishes to enhance the value of food production because it processes less than 10 percent of its agricultural yields.
The Middle East Institute article mentions the following:
“In 2017, India signed 14 Comprehensive Strategic Partnership (CSP) agreements with the UAE, India’s third-largest trading partner and Arabian Sea neighbor. Among the CSP agreements were three that addressed India’s strategic food priorities by creating Emirati-Indian cooperation frameworks in food processing, maritime transport, and freight logistics and warehousing. These agreements serve as the springboard for the UAE’s development of the logistics and distribution infrastructure of the corridor.”
In the next episode, we will take a look at the logistics and distribution engine of the India-Middle East Food Corridor.
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