UAE announces $2 billion investment in hi-tech Indian ‘food parks’ to ease shortages –


The United Arab Emirates has pledged $2 billion to assist develop a sequence of “meals parks” in India to sort out meals insecurity in South Asia and the Center East, the UAE, India, the USA and Israel mentioned on Thursday (14 July).

Talking in Jerusalem at a digital summit with UAE, Israeli and Indian leaders, US President Joe Biden mentioned the funding may “enhance India’s meals yields within the area three-fold in simply 5 years”.

The parks would deliver farmers, processors and retailers collectively utilizing superior local weather know-how to minimise waste, preserve water and maximise crop yields.

The 4 international locations would additionally advance renewable power initiatives in India, they mentioned.

The initiatives can be supported by Israeli and US personal sectors, Biden mentioned on the summit on meals safety and clear power amid fears of worldwide meals shortages brought on by the struggle in Ukraine.

Russia and Ukraine are the world’s third and fourth largest grain exporters, respectively, whereas Russia can be a key gasoline and fertiliser exporter.

The struggle has disrupted their exports, pushed world meals costs to report ranges and triggered protests in creating international locations already contending with elevated meals costs as a result of COVID-related provide chain disruptions.

Financial fallout from the pandemic, local weather change, meals insecurity and risky power markets, Biden mentioned, had been “made worse by Russia’s brutal and unprovoked assault” on Ukraine.

“All these points require cooperation and coordination, and none of us can mount a complete response on our personal,” Biden mentioned.

UN companies warned this month that the struggle in Ukraine and local weather change may push hunger and mass migration to unprecedented ranges.

Gulf Arab states import as a lot as 80-90% of their meals and whereas their oil wealth renders them much less weak to rising world meals costs than poorer international locations within the area, disruptions threaten their provide chains.

Rich Gulf states have invested closely in farmland abroad and have been investing domestically extra in agritech, which can be a fast-growing sector in Israel.

Crop yields are comparatively low in India, which regardless of being a significant farm items producer, lacks common irrigation for round half its farmland. Enterprise capital companies are more and more pouring cash into agritech start-ups within the nation.

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