Abu Dhabi [UAE], February 22 (ANI): Secretary (Economic Relations) Dammu Ravi in the Ministry of External Affairs on Wednesday attended India-Israel-UAE-US (I2U2) Sherpas meeting held in Abu Dhabi.
During the meeting, Sherpas reiterated their commitment to the I2U2 partnership and reviewed progress in all the existing and prospective I2U2 projects.
“Secretary ER Dammu Ravi attended the India-Israel-UAE-USA #I2U2 Sherpas meeting held in Abu Dhabi today. Sherpas reiterated their commitment to I2U2 partnership and reviewed progress in all the existing and prospective I2U2 projects,” tweeted Ministry of External Affairs spokesperson Arindam Bagchi.
India also joined the Agriculture Innovation Mission for Climate, a joint initiative of the US and UAE.
“India also joined the Agriculture Innovation Mission for Climate. A joint initiative of US & UAE, it aims to increase investment in agricultural innovation for climate-smart agriculture and food systems,” tweeted Bagchi.
Meanwhile, on the sidelines, the first I2U2 Business Forum was organised.
“On sidelines, the first #I2U2 Business Forum was organised. The forum brought together private and public sectors’ representatives from I2U2 countries, who discussed opportunities of cooperation between the business communities,” added Bagchi.
I2U2 Grouping was conceptualized during the meeting of the Foreign Ministers of the four countries held on 18 October 2021.
Each country also has Sherpa-level interactions regularly to discuss the possible areas of cooperation.
It is also referred to as the ‘West Asian Quad’ and was referred to as the ‘International Forum for Economic Cooperation’ back in 2021.
I2U2 is aimed to encourage joint investments in six mutually identified areas – Water, Energy, Transportation, Space, Health and Food security.
It intends to mobilize private sector capital and expertise to help modernize the infrastructure, and low-carbon development pathways for our industries, improve public health and promote the development of critical emerging and green technologies.
Technology is a prominent area in all the partner countries.
Israel and India are having widening start-up ecosystems in their respective countries.
UAE is also looking to divert from an oil-based economy to a technology-based economy.
Food security is an area where these countries can work together to reduce the consequences of food shortage issues.
Security and defence cooperation is also of prime importance to the grouping.
India and the US are already members of the QUAD and India has individual bilateral defence cooperation with each country.
The I2U2 can give a boost to trade and connectivity among the partners.
The platform is significant for attracting West Asian businesses and investors to India’s massive consumer market.
This grouping will also help India strengthen its position in West Asian geopolitics both strategically and economically.
The Indian diaspora in West Asian nations will significantly impact the remittances, and the I2U2 will help enhance the cooperation further. (ANI)
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