PM Modi to inaugurate Bharat Mart in Dubai: What is it and why is it crucial for India-UAE trade?
Chinese ‘Dragon Mart’ facility. It will serve as a warehousing facility for Indian MSMEs to trade in Dubai and work as a unified platform for Indian exporters to showcase their products in the Gulf nation. Like Dragon Mart, India's Bharat Mart is still in the conceptual stages and will be visually launched.
The platform is expected to be operational by 2025. Bharat Mart is expected to cover an expansive space surpassing 100,000 square meters, serving as a flexible and multifunctional facility that accommodates warehouse, retail, and hospitality services. The mart will be positioned to function as an all-encompassing destination that addresses diverse commercial requirements and activities.
As per the reports, Bharat Mart will be located at Jebel Ali Free Zone (JAFZA) and will be overseen by DP World. The facility is expected to have display spaces, office facilities, warehouses, and associated services to accommodate a wide range of product categories, ranging from heavy machinery to perishable items. Furthermore, there are intentions to establish a digital platform that facilitates convenient sourcing of goods from the facility for global buyers.
Bharat Mart will provide a boost to India-UAE trade and is going to be crucial for the terms set under the Comprehensive Economic Partnership Agreement (CEPA) which speaks about doubling the India-UAE non-petroleum trade target to $100 billion by 2030. “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," an official told news platform Economic Times.Milestone Alert!
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