I2U2 seeks to encourage joint investments in areas like water, energy, transportation, space, health, & food security

Prime Minister Narendra Modi will participate in the First I2U2 Summit, along with Prime Minister of Israel Yair Lapid, President of the UAE Sheikh Mohamed bin Zayed Al Nahyan and President of the USA Joseph R. Biden.

The summit will be held in a virtual format on Thursday (July 14), according to information released by the Ministry of External Affairs (MEA) on Tuesday.

"The Leaders will discuss the possible joint projects within the framework of I2U2 as well as the other common areas of mutual interest to strengthen the economic partnership in trade and investment in our respective regions and beyond," the MEA said.

According to the MEA, these projects can serve as a model for economic cooperation and offer opportunities for our businesspersons and workers.

The I2U2 Grouping was conceptualized during the meeting of the Foreign Ministers of the four countries held on October 18, 2021. Each country also has Sherpa- level interactions regularly to discuss the possible areas of cooperation, the MEA said.

I2U2 is aimed to encourage joint investments in six mutually identified areas such as water, energy, transportation, space, health, and food security.

It intends to mobilize private sector capital and expertise to help modernize the infrastructure, low carbon development pathways for our industries, improve public health, and promote the development of critical emerging and green technologies, the MEA noted.