"Under the I2U2 group's focus area of space, the governments of India, Israel, the United Arab Emirates, and the United States, all signatories of the Artemis Accords, announced a new joint space venture on the margins of the United Nations General Assembly in New York," the US Department of State said in a statement on September 22.
Participating in multiple regional blocs can help New Delhi pursue sustainable development provided it can balance its interests across such initiatives
The decision was announced after the leaders of the grouping — Prime Minister Narendra Modi, US President Joe Biden, Israeli Prime Minister Yair Lapid and UAE President Mohammed bin Zayed Al Nahyan — held the first virtual summit.
The leaders are expected to discuss joint economic projects to bolster economic cooperation under the framework of the coalition.
Ahead of the first West Asia 'Quad Summit', UAE’s senior-most economy official Abdalla AlSaleh says CEPA can take his country’s non-oil trade with India to above $100 billion from $40 billion in the next five years
The virtual summit of the four countries, termed I2U2, would take place during Biden’s trip to the region from July 13 to 16, a senior administration official told reporters during a conference call.