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PM Narendra Modi to inaugurate Bharat Mart in UAE | What is it?
Similar to China's ‘Dragon Mart’, Bharat Mart will be visually launched as the concept is yet to be finalised and is likely to be operational till 2025.
Prime Minister Narendra Modi is set to inaugurate Bharat Mart, a warehousing facility for Indian MSMEs to trade in Dubai. It will be a unified platform for Indian exporters to showcase a variety of products under one roof.
Similar to China's ‘Dragon Mart’, Bharat Mart will be visually launched as the concept is yet to be finalised and is likely to be operational by 2025.
What is Bharat Mart?
As per reports, the mart is anticipated to span an area exceeding 100,000 square meters, functioning as a versatile multipurpose facility hosting warehouse, retail, and hospitality amenities.
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Located within the Jebel Ali Free Zone (JAFZA), overseen by DP World, the Bharat Mart is poised to serve as a comprehensive destination catering to various commercial needs and activities.
Bharat Mart will have retail showrooms, offices, warehouses and supporting amenities to cater to diverse categories of goods, spanning from heavy machinery to perishable items.
Additionally, there are plans to develop a digital platform enabling global buyers to source goods from the facility conveniently.
The Bharat Mart initiative assumes importance as India and the UAE are striving to double their non-petroleum trade target to $100 billion by 2030 as part of the Comprehensive Economic Partnership Agreement (CEPA).
An official told the Economic Times, “The idea is to set up a base and do trading from the UAE. The genesis of this project is that China has similar facilities there which are helping their exporters.”
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Chief Operating Officer, Parks and Zones, DP World GCC Abdulla Al Hashmi told ET, “Bharat Mart is poised to become a mega-distribution hub to support the exports of made-in-India products to the world.”
Modi's UAE Visit
Prime Minister Narendra Modi is on a two-day visit to the United Arab Emirates (UAE) from February 13-14. PM is set to inaugurate the BAPS Mandir, the first Hindu temple in Abu Dhabi, and to meet the top leadership of one of India’s closest strategic partners in West Asia.
On Tuesday, upon reaching the airport, Modi received a warm welcome from UAE President Al Nahyan, with the two leaders exchanging handshakes and hugs. Expressing gratitude, PM Modi thanked UAE President Mohammed bin Zayed Al Nahyan for the BAPS Hindu Temple, emphasising its significance as a symbol of mutual affection and regard between India and the UAE.
Furthermore, India and the United Arab Emirates inked a pact on Tuesday for a trade corridor designed to link Europe with India via select regions of the Middle East, using both sea and rail routes. This ambitious initiative, supported by the United States and the European Union, aims to bolster trade ties and connectivity between the regions involved.
On Wednesday, Modi is set to hold a bilateral meeting with the UAE President, followed by another meeting with the UAE Vice-President. He is then slated to virtually inaugurate the Bharat Mart. Following this, PM Modi will address the World Governments Summit, 2024 and then he will inaugurate the BAPS Hindu Mandir in Abu Dhabi.
