The Mizoram Agriculture Minister – C. Lalrinsanga today flagged off 15.7 metric tons of pineapple from Ch. Saprawnga Truck Terminal in Rangvamual, Aizawl.

 

These pineapples – products of the Tuichangral Organic Farmer Producer Company Ltd (a conglomerate organization of 8 villages, incorporating of 500 farmers) will be sent to Sonipat, Haryana and other North Indian States.

 

Addressing the flagging-off ceremony, the Agriculture Minister expressed immense gratitude towards the Service Providers of Agri & Allied Sector, who have undertaken the initiative in exporting these organic products.

 

“India has one of the largest consumer markets, and if farmers are given the opportunity to produce enough to export; it can be a great booster for the State’s economy,” – Lalrinsanga stated.

 

Its worthy to note that the Tuichangral Organic Farmer Producer Company Limited was established in 2021, under the Central Sector Scheme – Mission Organic Value Chain Development for North Eastern Region (MOVCDNER).

 

An agreement was previously signed between Mission Organic Mizoram, PMU and Clover Organic Private Limited of Dehradun as the service provider to export pineapples produced by eight villages – Tlangpui, Tlangmawi, Khawhai, Lungtan, Vangtlang, Sialhawk, Chalrang and New Chalrang.

 

The effort was undertaken, after these bodies learnt about the hardships faced by the cultivators of these hamlets in selling their produce.

 

In accordance with the same, they immediately contacted Surifresh Extract Private Limited of Haryana’s Sonipat; and agreed to work on further pacts to export more pineapples.

Wheat production in India has expanded over 1,000% in the last six decades, thanks to the Green Revolution of the 1960s.

 

To put it in context, the country's total wheat output increased from 98.5 lakh tonnes in the early 1960s to 1,068.4 lakh tonnes in 2021-22, according to a data chart released by the centre on Wednesday. India is now the world's second-largest producer of wheat. India exported a record 70 lakh tonnes of food grain in 2021-22.

 

In terms of overall yield for foodgrains, India's per hectare yield has more than tripled since the 1960s. Foodgrain output per hectare increased from 757 kilos in the mid-1960s to 2.39 tonnes in 2021.

 

According to the centre, the 'Green Revolution' made India self-reliant in food grain production and increased agricultural productivity.

 

After ban on wheat, India curbs exports of flour, other derivatives

 

Meanwhile, total food grain production in India is expected to reach a record 315.72 million tonnes in the 2021-22 season, up 4.98 million tonnes from the previous season, according to the fourth advance estimates of major agricultural crop production released on August 17 by the Union Ministry of Agriculture and Farmers Welfare.

 

Production in 2021-22 is expected to be 25 million tonnes more than the previous five-year average (2016-17 to 2020-21).

 

Rice, maize, gram, pulses, rapeseed and mustard, oilseeds and sugarcane are predicted to have record harvests.

 

Production of wheat is estimated at 106.84 million tonnes during 2021-22. It is 2.96 million tonnes higher than the five-year average wheat production of 103.88 million tonnes.

 

Meanwhile, according to the most latest acreage data, the area under paddy cultivation, a key Kharif crop, is more than 8% lower than the previous season, at 343.7 lakh hectares.

 

Weeks after ban, India exported wheat worth $ 473 million in April

 

This Kharif season, farmers in India have sown less paddy. Kharif crops are usually sown during the monsoon season (June and July), and harvested between October and November.

 

The primary cause of the reduction in the sown area could be traced to the delayed progress of the monsoon in June and its uneven spread in most regions of the country in July.

 

Many people in India were concerned that the lack of paddy cultivation so far this Kharif season would result in low foodgrain production.

 

Weeks after ban, India exported wheat worth $ 473 million in April

 

Overall, Kharif sowing has been relatively well.

 

At 1013 lakh hectares, it is just over 2% lower than in 2021. According to the most recent Minister of Agriculture and Farmers Welfare data, overall sowing in 2021 would cover 1038 lakh hectares.

The food authority has issued a clarification that ‘no physical means’ was allowed with respect to the payment of application fee for endorsement of vegan logo.

 

The FSSAI has issued the clarification after the food businesses sought one. The food authority has recently issued guidelines having details of procedures for submission of application for endorsement of vegan logo and formats for the same.

 

The FSSAI has stated that it was clarified that no physical cheque or demand draft will be accepted by the food authority.

 

'The food business operators desirous of applying for endorsement of ‘vegan logo’ are requested to submit the application fee of Rs 5,000 only (excluding GST) through the online e-payment portal link (provided by the FSSAI). The transaction receipt and invoice generated shall be submitted to the Food Authority as an enclosure to the application,' reads the clarification.

 

Meanwhile, according to the guidelines, the Food Business Operator shall submit an application along with necessary documents and fees of Rs 5,000 (excluding G.S.T) and the food authority will scrutinise the application and may ask for additional documents, data and clarifications, if required.

 

The guidelines also prescribe that the FBOs need to put in place a recall plan in case of a food safety emergency while the FBOs can appeal to CEO FSSAI in case of rejection of their application.

 

Food Safety and Standards (Vegan Foods) Regulations, 2022, were notified in June 2022 and came in force after its publication in the official gazette. These regulations call for guidelines specified by the FSSAI for approval of vegan logo.

Free Trade Agreement talks with India’s eleventh largest export market Canada have gathered pace with the two sides set to begin the fourth round next month. New Delhi and Ottawa relaunched trade negotiations in March after a gap of nearly 10 years.

 

While India is looking for duty-free access for its textile and apparel products along with easier norms for the movement of Indian professionals, Canada could look for larger market access for its wine, dairy and agricultural products. 'I think both the countries realize that there is a great trading potential. Canada has been a very close trading partner and that’s the reason the trade negotiations restarted after a lull. We will begin the fourth round next month,' a commerce ministry official said.

 

A trade expert said a proposed investment protection agreement was a contentious issue the last time both countries sat across the negotiating table. On the other hand, India would seek the easing of technical and sanitary and phytosanitary barriers to trade, the expert added.

 

'We would like to see the negotiations on textile and apparel in the initial rounds. Duty-free access for our apparel exports to Canada can boost exports by 10 to 20%. Canada is a relatively smaller market compared to the UK and the EU but it will create more labour-intensive jobs in the country,' Narendra Kumar Goenka, chairman, Apparel Export Promotion Council (AEPC) said.

 

'Canada has an interest in agriculture…they have a very diverse and rich agricultural basket. Lot of pulses come from Canada. It is also strong in minerals and these are the sectors they would like to be opened up. Also dairy is important to Canada and they could be less sensitive to the dairy trade than the UK,' said Arpita Mukherjee, a professor at ICRIER, an economic policy think tank.

 

 

'Besides, Canada has not banned Indian dairy like a few western countries. Although there is a high tariff, negotiations on that are expected. There will also be a huge interest in education and services.'

 

Canada’s minister of international trade Mary Ng earlier expressed her appreciation for the spirit of cooperation and compromise that has been a hallmark of the negotiations and reaffirmed Canada’s goal of maintaining momentum in the fourth round of negotiations, which are scheduled to take place in September, as per a statement released by Global Affairs Canada.

The government under the leadership of Prime Minister Shri Narendra Modi has always been emphasizing on increasing the income of farmers and working for their socio-economic empowerment. Besides, the Central Government has taken several initiatives for the welfare of the Agriculture sector. Among these, the Pradhan Mantri Kisan Samman Nidhi (PM-Kisan) scheme is an important initiative. Progress of this scheme was reviewed by the Union Agriculture and Farmers Welfare Minister Shri Narendra Singh Tomar in a virtual meeting with the Agriculture Ministers of the States today. During the meeting, Shri Tomar said that no eligible farmer should be deprived of the benefits of this scheme. He also asked the States to complete the work of data verification and updation at the earliest.

 

Under the PM-KISAN, eligible farmers are given Rs. 6,000 in 3 equal instalments of Rs. 2,000 each every year, so that they can meet the agricultural and allied expenses along with the domestic needs. Since its launch in February-2019, 11 instalments have been disbursed under the PM-KISAN. More than Rs. 2 lakh crore has been transferred to about 11.37 crore eligible farmers through this scheme.

 

The benefit of PM-Kisan is given only to the farmers with land holdings. A database is being created for quick identification of eligible farmers for PM-KISAN and other schemes and farmers' welfare schemes to be launched in the future. It will have all the information including Aadhaar, bank account of farmers and the land records of farmers will be linked with their records. The land records of the States will have to be digitally converted to create the database. Today’s meeting was held in this regard.

 

Agriculture Ministers of Uttar Pradesh, Maharashtra, Uttarakhand, Haryana, Andhra Pradesh, Gujarat, Chhattisgarh, Punjab, Rajasthan, Assam, Arunachal Pradesh, Karnataka, Kerala and Bihar also presented their views in the meeting. Union Agriculture Secretary Shri Manoj Ahuja and Additional Secretary Shri Abhilaksh Likhi were present in the meeting along with Ministers/senior officers of other States. Joint Secretary and CEO of PM-Kisan, Dr. Pramod Kumar Meherda gave a presentation on the scheme.

India's Gross Domestic Product (GDP) grew at 13.5% in the first quarter of 2022-23, the fastest pace in four quarters, with the Gross Value Added (GVA) in the economy rising by 12.7%, as per National Statistical Office estimates released on Augsut 31.

 

 

The economy’s latest growth print, aided by a pick-up in private consumption spending and capital investments, is significantly lower than the 16.2% GDP uptick projected by the Reserve Bank of India’s Monetary Policy Committee and was just 3.8% above pre-pandemic levels.

 

The corresponding April to June quarter of last year had recorded a GDP growth of 20.1% and an 18.1% uptick in GVA amid the second COVID-19 wave, thanks to the base effects from the more stringent initial COVID-19 lockdowns. Economists expect the headline growth rate to moderate in the ongoing quarter as base effects fade out and uncertainties around global growth and domestic inflation linger on.

 

GVA from agriculture, forestry and fishing, the only sector that continued to grow through the pandemic, rose 4.5% in the April to June quarter of this year, while manufacturing and mining grew at 4.8% and 6.5%, respectively.

 

While the share of Government Final Consumption Expenditure in GDP moderated to 11.2% between this April and June, from 12.6% last year, GDP growth was boosted by private final consumption expenditure which surged to 59.9% of GDP from 54% in Q1 of 2021-22 and Gross Fixed Capital Formation (GFCF) which reflects capital investments in the economy. The share of GFCF improved to 34.7% of GDP in Q1 this year from 32. 8% in 2021-22.

 

 

The Finance Ministry said that GFCF and private consumption spending in the first quarter were at their highest levels in the past 10 years, aided by several reforms and steps taken by the government to reinvigorate capital investments and boost consumption.

 

 

 

With the sharp rise in imports over the first quarter, their share of GDP has jumped to 31% from 25.7% a year ago, while the share of exports inched up to 22.9% from 22.7% in Q1 of 2021-22. The Finance Ministry noted that this was the highest share for exports in Q1 of any year since 2014-15 'despite supply chain disruptions and slowing global demand'.

 

'With relatively high growth and low inflation, India, among the major peer economies has faced less of a trade-off between growth and inflation… The robust performance of high-frequency indicators in July and August 2022 indicates to a sustained growth in Q2 of 2022-23,' the Department of Economic Affairs in the Ministry said.

 

 'Compared to the pre-COVID-19 GDP level of Rs. 35.5 lakh crore in the first quarter of 2019-20, real GDP growth is only 3.8%. This shows that while the Indian economy is now fully recovered from the COVID shock, restoring a normal growth of 6.5 to 7% would require more time and policy support,' observed D.K. Srivastava, chief policy advisor at EY India.

 

Public administration, defence and other services which include education, health, recreation, and other personal services recorded the sharpest GVA growth at 26.3%, followed by trade, hotels, transport, communication and services related to broadcasting which grew rose 25.7%.

 

However, relative to the pre-COVID-19 level, contact-intensive sectors like trade, hotels, transport, stood out as the only sub-sector reporting a contraction in Q1, in line with a 'robust but incomplete recovery', noted ICRA chief economist Aditi Nayar.

 

'The GDP in the first quarter has recorded growth of 3.8% when compared to the pre-pandemic period of Q1 2019-20 and is lower than our expectations. The consumption demand revival has been uneven so far with weak rural demand and the sharp sequential contraction in the industrial sector is especially concerning,' said CARE Ratings chief economist Rajani Sinha.

 

While the base effects from the second COVID-19 wave in Q1 of 2021-22 have bolstered the growth rate this year, the overall trend is a mixed bag, said Madhavi Arora, lead economist at Emkay Global Financial Services.

 

'This is largely a story of service sector rebound which also was visible in private consumption on the expenditure side. However, manufacturing has remained disappointing,' she remarked.

 

The coming quarters will see a moderation in headline GDP growth. The Reserve Bank of India (RBI), earlier this month, reiterated its 7.2% GDP growth projection for 2022-23, with the first quarter expected to grow 16.2%, followed by 6.2% in the second quarter. The RBI expects growth to moderate to 4.1% in the October to December quarter, and 4% in the period from January to March 2023.

 

'Assuming that the RBI’s estimates of the remaining three quarters are realised, the annual GDP growth using the Q1 estimates of the NSO comes out to be 6.7%,' Mr. Srivastava said.  

 

'We see secular downturn in the growth print ahead, as the base effect fades and the economy also slows sequentially. Even as the recovery in domestic economic activity is yet to be broad-based, global drags in the form of still-elevated prices, shrinking corporate profitability, demand-curbing monetary policies and diminishing global growth prospects weigh on the growth outlook,' cautioned Ms. Arora, who expects GDP growth to be 7% in 2022-23.

 

The drop in core sector growth to a 4.5% in July is a signal that overall GDP growth moderation in Q2, even as an uneven monsoon is likely to weigh upon the farm sector and rural demand, Ms. Nayar noted. Rebound spending on services and some easing in commodity prices could help prop up Q2 growth to 6.5%-7%, she said.

 

'Going forward, with the global headwinds, India’s external sector would face a challenging time. It will be critical for domestic consumption and Investment to gather momentum,' Ms. Sinha said. That capacity utilisation levels in industry have risen to 75% and the Centre has ramped up its capital spending this year, augurs well for investments, she noted.

 

ICRA expects downside risks to the initial estimate of 12.7% GVA growth in Q1 on account of potential downward revisions in agricultural performance currently said to have grown 4.5%.

The Centre today approved a proposal to increase the procurement ceiling for tur, urad and masur under the price support scheme (PSS) and also decided to allocate 15 lakh tonne of surplus chana to states at a discounted rate.

 

The government said the decision was taken during a meeting of the Cabinet Committee on Economic Affairs (CCEA), chaired by PM Narendra Modi. The PSS, under the Agriculture Ministry, is operationalised only when prices of agriculture produce fall below the minimum support price (MSP). On the other hand, the price stabilisation fund (PSF), which is under the Food Ministry, commodities are purchased at market prices.

 

'The CCEA has approved enhancement of ceiling on the quantity of procurement under PSS from existing 25 per cent to 40 per cent in respect of tur, urad and masur,' the government said.

 

The CCEA also approved allocation of chana to states and UTs at a discounted rate to be utilised for various welfare schemes from the stock procured under the PSS and PSF. The states will be offered to lift 15 lakh tonne of chana at a discount of Rs 8 per kg over the issue price of the sourcing state on a 'first come, first serve' basis, it added.

Despite several challenges plaguing the bilateral relationship of late, India and Nepal are all set to upgrade their bilateral trade and transit ties under which Kathmandu will be given access to some of the key Indian ports along with enhanced reach for its agriculture produce, ThePrint has learnt.

 

Under its ‘Neighbourhood First’ policy the Narendra Modi government has decided that it will now allow Nepal to export and import goods from two of India’s strategic ports — Mundra Port in Gujarat and Dhamra Port in Odisha — under the yet to be revised transit treaty, negotiations for which are going on, diplomatic sources told ThePrint.

 

Such a move, according to sources, will not only give Nepal enhanced entry into the Indian markets but will also enable Kathmandu to use India as a gateway to access other markets in Southeast and Central Asian regions, said a source, who wished to not be identified.

 

This has been a long-pending demand by Nepal, which had been pushing India for such an upgradation in both the trade as well transit treaties that were signed decades ago.

 

The agreement was initially finalised as ‘The Treaty of Trade and Transit’ that was signed between the friendly neighbours in September, 1960. Thereafter, in 1978, the treaty was split into two — trade and transit.

 

Both these treaties get automatically renewed every seven years. The last time these two treaties were reviewed was in October 2016, without any changes.

 

The trade treaty allows Nepal unilateral duty-free access to the Indian market even as India remains Nepal’s largest trading partner. However, Nepal continues to complain that it has not been able to penetrate the Indian markets for its good due to various non-tariff barriers.

 

 

Since 2016, Nepal has been pushing India to make 'significant' changes to the treaty even as it continues to bat for upgrading the 1950 treaty of peace and friendship that address all issues under the entire gamut of bilateral ties between New Delhi and Kathmandu, including upgradation of the trade and transit agreements.

 

In 2020, during the India-Nepal Inter-Governmental Committee (IGC) meeting — the highest bilateral mechanism for promotion of trade and investments between both countries — it was decided that the bilateral transit treaty will be amended.

 

At that time, it was also decided that the government-owned cargo railway services will be opened to private operators too and using Nepal railway for trade purposes will be allowed.

 

Ranjit Rae, former Indian envoy to Nepal, told ThePrint, 'We should have an ‘open ports’ policy for not just Nepal but also for Bhutan, and not have a piecemeal approach. Just as the ‘open skies’ policy, we can have an ‘open ports’ policy too, so that some of our friendly neighbours can use whichever port they want to.'

 

Rae, author of Kathmandu Dilemma: Resetting India-Nepal Ties, also said that while some supporting infrastructure is definitely required to enable the neighbouring countries to use all the ports of India, it will also integrate them into the Indian economy which will be strategically beneficial for New Delhi.

 

Currently, Nepal is allowed to use only the ports of Kolkata and Visakhapatnam.

 

Constantino Xavier, fellow at the Centre for Social and Economic Progress (CSEP), said, 'These initiatives reflect the growing maturity of the bilateral relationship focused on economic interdependence and connectivity.'

 

'In the past, especially until the 1990s, the revision of the agreement used to be a contentious process, with India often weaponising trade and transit to pursue its political and security interests in Nepal. But in recent years, it is India that has been either pushing or conceding to Nepali demands, which reflects Delhi’s growing interest in strategic connectivity,' he adds.

 

Nepal has also urged India to support its agricultural exports by way of reducing some of the non-technical barriers to trade such as an arduous documentation process, certification process and safeguarding the origins of its products.

 

According to sources, Nepal is upset that export of its tea, which enters the Indian markets in many variants, gets packaged and sold as Darjeeling Tea or Ceylon Tea thereby incurring heavy losses to its farmers.

 

Under the upcoming review of the trade treaty, Kathmandu has also sought enhanced connectivity with India so that more and more traders and businessmen can freely travel between India and Nepal.

 

'Our long-term approach should be developing this sub-region as a common market. We should have free flow of goods and services between Nepal, Bhutan and Bangladesh and also allow them to export to other countries using our territory. This will give it a more strategic dimension,' said Rae.

 

According to Xavier, 'This connectivity angle to the relationship has progressed steadily, unaffected by the political tensions that affect the relationship every few years. As India emphasised during the 2020 Kalapani crisis, it will continue to deliver on its economic assistance and other commitments to connect both countries even when there are political tensions between both capitals.'

 

'With elections on the horizon in Nepal, India will likely again be dragged into political controversies by nationalist segments in Kathmandu, but these new connectivity initiatives will continue strengthening the relationship despite occasional irritants at the political and security level, including China’s growing influence in Nepal,' he added.

 

Ties between India and Nepal entered a period of turmoil in 2015 during the Madhesi agitation that led to a massive blockade on the border restricting the supplies of essential goods like food and fuel to Nepal.

 

Thereafter, in 2020, ties hit an all-time low when Nepal changed its political map by including the disputed territories of Limpiyadhura, Lipulekh and Kalapani within its borders, as a retaliation to New Delhi’s issuance of a new map of India in 2019.

 

Meanwhile, Nepal had been witnessing a series of political crises which were triggered by their former Prime Minister K.P. Sharma Oli of the Communist-UML party, which ultimately resulted in the coming back of the leader of opposition Nepali Congress Sher Bahadur Deuba as their PM for the fifth time.

 

However, political turmoil continues to destabilise the Himalayan country. It is headed for polls on 20 November where Oli will once again be running for the post of prime minister.

Iran seeks preferential tariff treatment from India for agro products, including relaxation of stringent food safety standards norms, said Benham Tajaddini, President of Agriculture and Food Industries Commission of Iran, on Tuesday.

 

While leading an agriculture trade delegation from Urmiah Province of Iran here in Mumbai, Tajaddini also sought the removal of a ban by India on the import of some fresh fruits from Iran. 

 

Speaking at an interactive meeting organised by MVIRDC World Trade Centre Mumbai—an international trade promotion organisation and the All India Association of Industries (AIAI), Tajaddini said, 'Urmiah Province produces 60 per cent of processed and concentrated food products in Iran and is the largest producer of apples, with an annual output of 1.5 million tons, along with other fruits such as grapes, pears, and apricots. The province has a world-class cold storage system to increase the shelf life of these fruits as they are exported to Europe and CIS countries.' 

 

Earlier, in his welcome remarks, Vijay Kalantri, Chairman, MVIRDC WTC Mumbai, suggested that Iran and India can contribute to the food security of both nations by promoting bilateral trade in agro-products. 

 

'India needs to regain the lost growth momentum in the export of agro products to Iran by expediting cargo clearance at Chabahar Port, signing preferential trade agreements with Iran and addressing high shipping costs. Today, Iran is the ninth largest destination for India’s agricultural products, compared to the third largest destination before the pandemic. 'Our agro exports to Iran declined from USD 1.3 billion in FY20 to USD 960 million by 2021-22, ' Kalantri said.

 

Indian exporters and importers can reduce the cost of trade by transacting directly with Iranian companies in local currency rather than routing the trade through other territories such as Dubai or Singapore, Kalantri suggested. 

 

Highlighting the potential goods for promoting bilateral trade, Kalantri mentioned that India is already a major exporter of basmati and non-basmati rice, fresh fruits, juices, nuts, groundnuts, pulses, and processed food items. Similarly, we can import fresh fruits and vegetables from Iran to control inflation in these commodities in the domestic market. 

 

Speaking on this occasion, Jafar Nikzad, President of West Azerbaijan Union of Agro Products, Iran remarked, 'We are keen to import bananas, apples, and other fresh fruits from India. Similarly, Iran can supply apples, kiwifruit, saffron, grapes, and other agro-products to India. Currently, we are holding discussions with the Government of India to resolve the shipping, logistics, and food safety standards issues that are affecting our two-way trade.'

External Affairs Minister S Jaishankar will travel to the United Arab Emirates (UAE) from August 31 to September 2 to co-chair the 14th India-UAE Joint Commission Meeting (JCM) and the third India-UAE Strategic Dialogue with UAE Foreign Minister Sheikh Abdullah bin Zayed Al Nahyan.

 

 

These meetings will allow both Ministers to review the entire spectrum of comprehensive strategic partnerships between India and the UAE, as well as regional and global developments. EAM will also meet with other UAE dignitaries during his visit, according to a press release from the External Affairs Ministry.

 

In 2022, India and the UAE have had regular high-level interactions. On June 28, 2022, Prime Minister Narendra Modi visited Abu Dhabi and met with UAE President Sheikh Mohammed bin Zayed Al Nahyan.

 

Previously, on February 18, both leaders held a virtual summit at which the India-UAE Comprehensive Economic Partnership Agreement (CEPA) was signed and a Vision Statement was adopted. Both leaders also attended the I2U2 Summit, which was held virtually on July 14. The UAE will invest USD 2 billion in India to build a network of integrated agriculture parks across the country.

 

The four countries' leaders, including Israel Prime Minister Yair Lapid, Prime Minister Narendra Modi, US President Joe Biden, and UAE President Mohammed bin Zayed Al Nahyan, stated in a joint statement that the US and Israeli private sectors will be invited to lend their expertise in India and offer innovative solutions that contribute to the overall sustainability of the project.

 

The 'I2U2' virtual summit of India, Israel, the United Arab Emirates, and the United States is envisioned as the Quad for West Asia. The goal of I2U2 was to encourage joint investments in six mutually identified areas, including water, energy, transportation, space, health, and food security.

 

According to the release, both India and the UAE are committed to expanding their partnership in a variety of areas, including trade, investment, conventional and renewable energy, food security, health, skill development, education, culture, defence, space, consular issues, and people-to-people ties.

 

The four countries' leaders, including Israel Prime Minister Yair Lapid, Prime Minister Narendra Modi, US President Joe Biden, and UAE President Mohammed bin Zayed Al Nahyan, stated in a joint statement that the US and Israeli private sectors will be invited to lend their expertise in India and offer innovative solutions that contribute to the overall sustainability of the project.

 

The 'I2U2' virtual summit of India, Israel, the United Arab Emirates, and the United States is envisioned as the Quad for West Asia. The goal of I2U2 was to encourage joint investments in six mutually identified areas, including water, energy, transportation, space, health, and food security.

 

According to the release, both India and the UAE are committed to expanding their partnership in a variety of areas, including trade, investment, conventional and renewable energy, food security, health, skill development, education, culture, defence, space, consular issues, and people-to-people ties.

 

These issues were also discussed at the official level during the JCM Sub-Committee meetings on August 23-24, 2022. Notably, on February 18, this year, the India-UAE Comprehensive Economic Partnership Agreement was signed. It went into effect on May 1 of this year.