Prime Minister, Mr. Narendra Modi, Inaugurated Bharat Mart in Dubai, Signifying a Crucial Milestone for India-UAE Trade.
- IBEF
- February 15, 2024
Prime Minister Mr. Narendra Modi's two-day visit to the United Arab Emirates included the launch of Bharat Mart, a facility mirroring China's 'Dragon Mart' concept. This virtual platform, set to be operational by 2025, serves as a warehousing hub for Indian MSMEs, simplifying trade with UAE consumers. Spanning over 100,000 square meters in the Jebel Ali Free Zone (JAFZA), overseen by DP World, Bharat Mart offers a versatile space integrating warehousing, retail, and hospitality services, intending to address diverse commercial needs.
Bharat Mart is strategically crucial for India-UAE trade, aligning with the Comprehensive Economic Partnership Agreement (CEPA) goals. The initiative, inspired by China's successful export facilities, aims to double non-petroleum trade between India and the UAE to US$ 100 billion by 2030, establishing a robust regional trading base.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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