Bharat Mart: India’s Mega Warehousing Venture Takes Shape In Dubai
Prime Minister Narendra Modi has announced a new project called Bharat Mart in the United Arab Emirates (UAE).
This project aims to improve trade relations between India and the UAE and make India more involved in the global supply chain.
It will be a big warehouse facility and will compete with China’s Dragon Mart. The Prime Minister laid the foundation stone for the project during his recent UAE visit.
Bharat Mart to Rival China’s Dragon Mart in Dubai
Bharat Mart, spanning over 100,000 square meters, is India’s response to China’s Dragon Mart.
Located within Dubai’s Jebel Ali free zone and managed by DP World, the mart will feature retail showrooms, warehouses, offices, and other facilities.
It aims to provide a unified platform for Indian exporters to showcase their diverse range of products, including heavy machinery and perishable items, mirroring the success of Dragon Mart.
Facility to Bolster India-UAE Ties
The establishment of Bharat Mart is poised to strengthen trade relations between India and the UAE.
Leveraging Jebel Ali Port’s strategic location and logistics capabilities, the mart aims to connect Indian traders with international buyers across West Asia, Africa, and Eurasia.
This move follows the CEPA (Comprehensive Economic Partnership Agreement) signed in 2022, which propelled trade between India and the UAE to a record high of US$84.5 billion in 2022-23.
PM Modi’s UAE Visit Highlights
PM Modi’s recent visit to the UAE marked his third trip to the country in eight months, underlining the growing Indo-Emirati relations.
During the visit, he launched the UPI payment system, the JAYWAN card, based on India’s digital RuPay credit and debit cards.
The main highlight was the inauguration of the BAPS Hindu Mandir (Bochasanwasi Akshar Purushottam Swaminarayan Sanstha temple) by PM Modi in Abu Dhabi.
5 Important Facts To Know About Bharat Mart
1. Location and Management:
Bharat Mart will be established within the Jebel Ali Free Zone (JAFZA) under the management of DP World.
2. Facilities:
The complex will comprise retail outlets, storage facilities, administrative offices, and supplementary amenities catering to various merchandise categories.
3. Strategic Importance:
The project aligns with India and the UAE’s goal of boosting non-petroleum trade to $100 billion by 2030 as part of the Comprehensive Economic Partnership Agreement.
4. Centralized Platform:
To counter the reach of China’s Dragon Mart, Bharat Mart aims to offer exporters a consolidated avenue to exhibit their diverse product ranges.
5. Expansive Reach:
Spanning over 100,000 square meters, Bharat Mart is envisioned as a versatile establishment, integrating warehouse functionalities with retail and hospitality units to meet diverse trading needs.
Also Read: World Government Summit 2024: Global Leaders To Gather In Dubai
With Bharat Mart scheduled to commence operations by 2025, India’s footprint in the UAE’s trade landscape is set to witness a transformative shift, opening doors to enhanced collaboration and economic growth.
