The UAE Invests $2 Billion In Hi-Tech Indian Crop-Growing ‘Food Parks’ To Ease Shortages

The United Arab Emirates (UAE) invested $2 billion to help Hi-Tech companies develop a series of “food parks” in India to tackle food insecurity in South Asia and the Middle East, according to a joint statement by the leaders.

Speaking in Jerusalem at a virtual summit with the UAE, the leaders of Israel, Indian leaders, and United States President Joe Biden said on Thursday that the investment could “increase India’s food yields in the region three-fold in the next five years”.

Food parks in India

The food parks in India would bring farmers, processors and retailers together to tackle food security in the region. They will use advanced climate technology to minimise waste, conserve water and maximise crop yields in India. The farmers will grow crops, including potatoes, rice and onions.

The four countries: Israel, India, the US, and the UAE would also advance renewable energy projects in India, including wind and solar energy plants. The projects for building ‘food parks’ would also be supported by the Israeli and U.S. private sectors.

Indian foreign secretary Vinay Kwatra said in New Delhi, “It will benefit local farmers and would reduce trade barriers and unify food safety standards.”

According to Reuters, India, the world’s third-biggest oil importer and consumer, depends on the Gulf states for meeting most of its oil needs.

What did Joe Biden say?

Joe Biden said at the summit on food security and clean energy that food shortages across the world were caused by the war in Ukraine. They also have fears of global food shortages. Reportedly, Russia and Ukraine are the world’s third and fourth largest grain exporters, respectively.

The Russia-Ukraine war has also disrupted their exports, and pushed world food prices to record high levels. The world was already suffering from elevated food prices due to Covid-19-related supply chain disruptions.