India and UAE to Set Up Food Corridor with $2 Billion Investment

 

India and the UAE are embarking on a significant collaboration by establishing a food corridor with an investment of $2 billion. This initiative aims to cater not only to the UAE market but also to other international markets, providing a lucrative opportunity for Indian farmers. Union Minister Piyush Goyal highlighted that this project will enhance the income of Indian farmers while creating additional job opportunities within the agricultural sector. The food corridor reflects a strategic partnership that seeks to boost trade relations and strengthen food security between the two nations.

During a press conference following the 12th meeting of the India-UAE High-Level Task Force on Investment, Goyal emphasized the importance of this venture. He announced the formation of a specialized working group that includes representatives from the central and state governments of India, alongside UAE officials. This group will focus on advancing the establishment of the food corridor, ensuring a streamlined approach to overcome any potential hurdles. The commitment from both countries signifies their determination to enhance agricultural cooperation and promote food processing investments.

Looking ahead, Minister Goyal stated that the objective is to accelerate progress in food processing initiatives, allowing UAE investors to tap into India's vast agricultural resources. This collaboration is poised to create a win-win scenario, enhancing trade and investment opportunities while addressing food supply challenges in the region. As the partnership unfolds, it is expected to significantly benefit Indian farmers and contribute to the broader economic growth of both countries.