Why is the Bharat Mart important for trade between India and the United Arab Emirates, and will Prime Minister Modi will open Bharat Mart?

By Aadil Khan Feb 15, 2024
Prime Minister Modi will open Bharat MartPrime Minister Modi will open Bharat Mart

During his two-day visit to the United Arab Emirates (UAE), Prime Minister Narendra Modi is expected to take part in a number of events. On Wednesday, Prime Minister Modi will open Bharat Mart to facilitate trade between Indian exporters and UAE customers.

Live updates from the UAE’s PM Modi Hindu Mandir (BAPS) Inauguration 

India has been influenced by China, as evidenced by the fact that Bharat Mart will resemble the Chinese “Dragon Mart” complex. It would function as a consolidated platform for Indian exporters to exhibit their goods in the Gulf country and as a warehouse for MSMEs in India to trade in Dubai.

Similar to Dragon Mart, Bharat Mart in India is now in the conceptual phase and will be launched virtually. By 2025, the platform should be up and running.

Bharat Mart: Prime Minister Modi will open Bharat Mart

It is anticipated that Bharat Mart will occupy an area of more than 100,000 square meters, functioning as a versatile and multipurpose building that houses retail, hospitality, and warehousing services. The mart will be positioned to serve as a comprehensive destination catering to a variety of commercial needs and activities.

According to the rumors, Bharat Mart will be managed by DP World and housed in the Jebel Ali Free Zone (JAFZA).

It is anticipated that the facility will feature office spaces, warehouses, display areas, and related services to handle a variety of product categories, from heavy machinery to perishables. Additionally, plans are in place to create a digital marketplace that will make it easier for customers throughout the world to source products from the facility.

Important for the conditions of the Comprehensive Economic

 Partnership Agreement (CEPA), which calls for tripling the non-petroleum trade objective between India and the UAE to $100 billion by 2030, Bharat Mart will spur trade between the two countries.

Establishing a base and conducting business out of the UAE is the plan. This project got its start because China has comparable facilities there that support its exporters, an official told the Economic Times.

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