<p>India, Israel, the United States and the United Arab Emirates will explore joint investments in water, energy, transportation, space, health and food security when Prime Minister Narendra Modi will on Thursday virtually join the leaders of the three other nations in a summit to launch a new four-nation bloc.</p>.<p>Modi, President Joe Biden of the United States, Sheikh Mohamed bin Zayed Al Nahyan of the United Arab Emirates and Prime Minister Yair Lapid of Israel will discuss joint efforts to expand trade and investment, not only in the respective neighbourhoods of the four nations but also in other regions of the country.</p>.<p>The summit is likely to formally give birth to the new bloc, ‘I2U2’, which was conceived when External Affairs Minister S Jaishankar visited Tel Aviv and Jerusalem in October 2021and joined his then counterpart in the Government of Israel, Yair Lapid, to hold a virtual meeting with Anthony Blinken, the US Secretary of State, and Sheikh Abdullah bin Zayed Al Nahyan, the Foreign Minister of the UAE.</p>.<p>Lapid has taken over as the Prime Minister on July 1 last, succeeding Naftali Bennett.</p>.<p>The I2U2 is aimed to encourage joint investments in six mutually identified areas such as water, energy, transportation, space, health, and food security, Arindam Bagchi, the spokesperson of the Ministry of External Affairs (MEA), said in New Delhi on Tuesday, adding: “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”.</p>.<p>India's move to join the US, the UAE and Israel in the new bloc reflected its keenness to take advantage of the Abraham Accords to deepen engagement with Israel without risking its relations with the Arab nations of the Persian Gulf.</p>.<p>The I2U2 is also being seen as the “West Asian Quad” constituted to counter China’s bid to expand its geo-economic influence in the region – much like the other ‘Quad’, a coalition forged by India, Japan, Australia and the US to stonewall expansionist moves by the communist country in Indo-Pacific.</p>.<p>India, however, is likely to avoid any security or defence cooperation within the framework of the I2U2 – in order to avoid any impact on its relations with Iran.</p>.<p>Modi, Biden, Lapid and Sheikh Mohammed 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 respective regions of the four nations and beyond. “These projects can serve as a model for economic cooperation and offer opportunities for our businesspersons and workers,” the MEA stated.</p>.<p>The virtual summit to launch the I2U2 will take place during the US President’s visit to Israel.</p>
<p>India, Israel, the United States and the United Arab Emirates will explore joint investments in water, energy, transportation, space, health and food security when Prime Minister Narendra Modi will on Thursday virtually join the leaders of the three other nations in a summit to launch a new four-nation bloc.</p>.<p>Modi, President Joe Biden of the United States, Sheikh Mohamed bin Zayed Al Nahyan of the United Arab Emirates and Prime Minister Yair Lapid of Israel will discuss joint efforts to expand trade and investment, not only in the respective neighbourhoods of the four nations but also in other regions of the country.</p>.<p>The summit is likely to formally give birth to the new bloc, ‘I2U2’, which was conceived when External Affairs Minister S Jaishankar visited Tel Aviv and Jerusalem in October 2021and joined his then counterpart in the Government of Israel, Yair Lapid, to hold a virtual meeting with Anthony Blinken, the US Secretary of State, and Sheikh Abdullah bin Zayed Al Nahyan, the Foreign Minister of the UAE.</p>.<p>Lapid has taken over as the Prime Minister on July 1 last, succeeding Naftali Bennett.</p>.<p>The I2U2 is aimed to encourage joint investments in six mutually identified areas such as water, energy, transportation, space, health, and food security, Arindam Bagchi, the spokesperson of the Ministry of External Affairs (MEA), said in New Delhi on Tuesday, adding: “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”.</p>.<p>India's move to join the US, the UAE and Israel in the new bloc reflected its keenness to take advantage of the Abraham Accords to deepen engagement with Israel without risking its relations with the Arab nations of the Persian Gulf.</p>.<p>The I2U2 is also being seen as the “West Asian Quad” constituted to counter China’s bid to expand its geo-economic influence in the region – much like the other ‘Quad’, a coalition forged by India, Japan, Australia and the US to stonewall expansionist moves by the communist country in Indo-Pacific.</p>.<p>India, however, is likely to avoid any security or defence cooperation within the framework of the I2U2 – in order to avoid any impact on its relations with Iran.</p>.<p>Modi, Biden, Lapid and Sheikh Mohammed 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 respective regions of the four nations and beyond. “These projects can serve as a model for economic cooperation and offer opportunities for our businesspersons and workers,” the MEA stated.</p>.<p>The virtual summit to launch the I2U2 will take place during the US President’s visit to Israel.</p>
