PM Modi to Inaugurate Bharat Mart: Boosting India-UAE Trade
Prime Minister Narendra Modi is all set to open Bharat Mart, a significant warehousing complex designed to assist Indian MSMEs in trading within Dubai. This initiative aims to provide a centralized platform for Indian exporters to display a diverse array of products under one roof.
Similar to China's ‘Dragon Mart', Bharat Mart's visual launch is imminent, although the final concept is still being ironed out and is expected to be up and running until 2025.
So, what exactly is Bharat Mart?
Reports suggest that this mart will cover an expansive area exceeding 100,000 square meters. It will function as a versatile space, incorporating warehousing, retail, and hospitality amenities. Situated within the Jebel Ali Free Zone (JAFZA) under the supervision of DP World, Bharat Mart is poised to cater to various commercial needs and activities.
The facility will comprise retail showrooms, offices, warehouses, and supporting amenities to accommodate a wide range of goods, from heavy machinery to perishable items. Plans are also underway to develop a digital platform facilitating global buyers in sourcing goods from the facility.
The significance of Bharat Mart is underscored by India and the UAE's mutual ambition to double their non-petroleum trade target to $100 billion by 2030 under the Comprehensive Economic Partnership Agreement (CEPA).
According to Abdulla Al Hashmi, Chief Operating Officer, Parks and Zones, DP World GCC, Bharat Mart is positioned to emerge as a major distribution hub, supporting the export of Indian products worldwide.
Modi's Visit to UAE:
During his two-day visit to the UAE from February 13–14, Prime Minister Narendra Modi inaugurated the BAPS Mandir, the first Hindu temple in Abu Dhabi. He also engaged in meetings with top UAE leadership, including a bilateral meeting with UAE President Al Nahyan.
The visit saw the signing of a pact for a trade corridor aimed at linking Europe with India via select Middle Eastern regions, utilizing sea and rail routes. This initiative, supported by the United States and the European Union, is intended to enhance trade ties and connectivity between the involved regions.
On his agenda for Wednesday, PM Modi will hold further bilateral meetings with UAE leadership, virtually inaugurate Bharat Mart, address the World Governments Summit 2024, and finally inaugurate the BAPS Hindu Mandir in Abu Dhabi, solidifying ties with one of India's key strategic partners in West Asia.
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