The UAE will be investing $2.3 billion in India which is about Rs 15,500 crore to develop a series of integrated food parks.
The US will invest $330 million to set up a hybrid renewable energy project in Dwarka, Gujarat.
This projects are under the framework of I2U2 which was announced by the leaders of the four nation grouping comprising India, Israel, UAE, and US in their first virtual summit on thursday.
The West Asian Quad, I2U2 has agreed to increase joint investment in six crucial areas : water, energy, transportation, space, health, and food security.
I2U2 conceptualised during meeting of the foreign ministers of the four countries held in October 2021.
US president Joe Biden said the group will identify new infrastructure projects to invest in and develop together.
The $330 million investment in clean energy projects will be funded by the US Trade and Development Agency, while the UAE based companies are exploring oppurtunities to serve as critical knowledge and investment partners.
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