Prime Minister Narendra Modi to unveil Bharat Mart in UAE: What you need to know
PTC News Desk: Prime Minister Narendra Modi will inaugurate Bharat Mart, a warehousing facility aimed at facilitating trade for Indian MSMEs in Dubai. Serving as a unified platform, it will enable Indian exporters to exhibit a diverse range of products under a single roof.
Resembling China's 'Dragon Mart', Bharat Mart will be visually introduced as the concept is still under finalisation and is expected to operate until 2025.
Bharat Mart is anticipated to cover an area exceeding 100,000 square meters, serving as a versatile multipurpose facility comprising warehouses, retail outlets, and hospitality services.
Situated within the Jebel Ali Free Zone (JAFZA) under the management of DP World, Bharat Mart is designed to meet a wide range of commercial requirements and activities. It will feature retail showrooms, office spaces, warehouses, and other amenities to accommodate various goods categories, from heavy machinery to perishable items.
Furthermore, plans are underway to establish a digital platform facilitating global buyers in sourcing goods conveniently from the facility. The initiative gains significance as India and the UAE aim to double their non-petroleum trade to $100 billion by 2030 under the Comprehensive Economic Partnership Agreement (CEPA).
An official explained, "The objective is to establish a hub for trading from the UAE. The inspiration for this project comes from China's similar facilities, which have been beneficial for their exporters."
Abdulla Al Hashmi, Chief Operating Officer of Parks and Zones at DP World GCC, stated, "Bharat Mart is positioned to emerge as a major distribution center supporting the export of Indian-made products worldwide."
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Prime Minister Narendra Modi embarked on a two-day journey to the United Arab Emirates (UAE) from February 13-14. During this visit, PM Modi is scheduled to inaugurate the BAPS Mandir, marking the first Hindu temple in Abu Dhabi, and engage in discussions with the top leadership of one of India’s key strategic allies in West Asia.
Upon his arrival at the airport on Tuesday, Modi was warmly welcomed by UAE President Al Nahyan, where they exchanged greetings and embraces. Expressing appreciation, PM Modi extended gratitude to UAE President Mohammed bin Zayed Al Nahyan for the BAPS Hindu Temple, underscoring its significance as a symbol of the strong bond between India and the UAE.
Additionally, India and the United Arab Emirates signed an agreement on Tuesday for a trade corridor aimed at connecting Europe with India via specific regions in the Middle East, utilising both maritime and rail routes. Supported by the United States and the European Union, this ambitious initiative seeks to enhance trade relations and connectivity among the involved regions.
On Wednesday, Modi is scheduled to hold bilateral talks with the UAE President, followed by a meeting with the UAE Vice-President. He will then virtually inaugurate the Bharat Mart and address the World Governments Summit 2024. Subsequently, PM Modi will inaugurate the BAPS Hindu Mandir in Abu Dhabi.
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(Inputs from agencies)
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