India and the United Arab Emirates (UAE) are set to establish a food corridor aimed at enhancing food security in the UAE while supporting Indian farmers. The initiative will begin with an initial investment of approximately $2 billion (around ₹17,000 crore) dedicated to food processing and logistics for food parks. Union Minister of Commerce and Industry Piyush Goyal announced this development at the 12th High-Level Task Force on Investments (HLTFI) conference in Mumbai.
This food corridor is part of a broader investment strategy that targets a total of $100 billion across several sectors, including infrastructure and manufacturing. Goyal highlighted that investments from the UAE into India are anticipated to rise following the recent bilateral investment treaty (BIT) signed in August, which is designed to enhance economic cooperation between the two nations.
A working group comprising representatives from the central government, involved state governments, and the UAE has been formed to expedite the project’s implementation. Goyal noted that this initiative is expected to increase farmer incomes and create job opportunities in food processing, while also ensuring a reliable supply of agricultural products to the UAE and the Gulf region.
Furthermore, Goyal announced the establishment of Invest India offices in both countries to streamline investment processes. The UAE will provide space for the Invest India office in Dubai at no cost, while India will reciprocate with a location for the UAE’s investment office in New Delhi. These offices are expected to facilitate approvals and enhance economic collaboration.
In a significant move towards educational collaboration, the Indian Institute of Foreign Trade (IIFT) will set up its first overseas campus in the UAE, located at the former Dubai Expo Pavilion. This follows the establishment of an Indian Institute of Technology (IIT) campus in Abu Dhabi last year, further strengthening the ties between India and the UAE.