UAE companies plan $7 billion investment in India to ensure food security - IBTimes India
Minister of railways, commerce and industry (India) Piyush Goyal said that the UAE companies, which will be coordinated by Dubai-based real estate giant Emaar Group, plan to invest up to $5 billion in mega food parks and similar facilities in Indian cities. They also aim to invest up to $2 billion in contract farming, sourcing of farm products and other related infrastructure, emirate's state-run WAM news agency said. The ambitious food corridor project is also expected to further strengthen India's exports of food products to the Gulf state, which is estimated at $2.5 billion per annum. Media reports had earlier indicated that the Gulf state has already identified 20 food products that are needed in the country in large quantities, which could be imported from India. Food Parks, Logistics Facilities Earlier on Monday, the minister said that seventeen UAE companies have confirmed their investment in India's infrastructure projects in the last year.