INDUSTRY

$2-billion food parks proposed in India to tackle food shortage in South Asia & Middle East

The United Arab Emirates (UAE) pledged $2 billion to help develop a series of food parks in India to tackle food insecurity in South Asia and the Middle East, a joint statement of the UAE, the US, India and Israel said on Thursday. 

The announcement came ahead of a virtual summit held by US President Joe Biden with the UAE, Israeli and Indian leaders. The virtual summit focused on food security and clean energy amid fears of global food shortages caused by the war in Ukraine. 

Speaking in Jerusalem, Mr Biden said that the investment could “increase India’s food yields in the region three-fold in just five years”.

The idea behind the proposed food parks is to bring farmers, processors and retailers together in one place using the latest climate technology to minimise waste, conserve water and maximise crop yields. 

The four countries would also advance renewable energy projects in India, they said in the statement. 

“US and Israeli private sectors will be invited to lend their expertise and offer innovative solutions that contribute to the overall sustainability of the project,” the statement added. 

Russia and Ukraine are the world’s third and fourth largest grain exporters respectively, while Russia is also a key fuel and fertiliser exporter. 

The war has disrupted their exports, pushed world food prices to record levels and triggered protests in developing countries already contending with elevated food prices due to COVID-related supply chain disruptions. 

UN agencies had warned this month that the war in Ukraine and climate change could push starvation and mass migration to unprecedented levels. 

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