PM Modi opens a 100,000 square foot Bharat Mart for exports in Dubai

To increase exports, PM Modi opens a 100,000-square-meter Bharat Mart in Dubai. jointly run by the logistics, port, and maritime services company DP World, situated in Dubai

In a virtual ceremony, UAE Vice President Mohamed bin Rashid Al Maktoum and Prime Minister Narendra Modi lay the foundation stone for Bharat Mart, which integrates retail, warehousing, and logistics at the Jebel Ali Free Trade Zone in Dubai. The Bharat Mart building will become a major center for logistics and trade in Dubai.

Overview of Bharat Mart
The Bharat Mart facility, which is similar to China’s Dragon Mart, is the result of joint venture between India’s commerce ministry and DP World, a prominent logistics corporation with headquarters in Dubai.
Bharat Mart is envisioned as a multifunctional platform that will combine logistics, warehouse, and retail spaces in Dubai’s Jebel Ali Free Trade Zone.
The facility, which occupies more than 100,000 square meters, intends to shorten the time and cost of moving goods from India to Europe and Africa.

Opening Ceremonies and Principal Players
In a virtual event, UAE Vice President Mohamed bin Rashid Al Maktoum and Prime Minister Narendra Modi lay the foundation stone for Bharat Mart.
This symbolic action demonstrates both countries’ dedication to promoting economic cooperation and easing trade between the UAE and India.

Goals and Effects
Bharat Mart intends to expedite the export procedure for Indian small and medium-sized firms (SMEs), with an expected operational schedule of 2025.
Through the use of DP World’s logistical experience and Jebel Ali Port’s advantageous position, the facility aims to save shipping times and costs, especially to important markets in Europe and Africa.
With Bharat Mart, India’s micro, small, and medium-sized enterprises can access clients worldwide in the Gulf, West Asia, Africa, and Eurasia, potentially increasing exports from these sectors by a substantial margin.

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Improving Trade ties between India and the UAE
Both Mohamed bin Rashid and Modi expressed hope that Bharat Mart would increase bilateral trade between the UAE and India.
Both executives predict a large increase in exports from India’s micro, small, and medium sectors to overseas markets throughout the Gulf, West Asia, Africa, and Eurasia by utilizing the platform’s connectivity and logistical advantages.

Mutual Relations and Partnerships
Apart from the launch of Bharat Mart, Modi and Mohamed bin Rashid’s bilateral talks covered a broad range of cooperative initiatives.
Trade, investment, technology, space exploration, education, and cross-cultural interactions are a few of these. The leaders cited the recent bilateral investment pact and the Comprehensive Economic Partnership Agreement inked in 2022 as significant steps toward fostering stronger economic ties.

Outreach in Humanitarianism and Diplomacy
Modi’s interactions in Dubai went beyond business partnerships to show India’s dedication to diplomatic outreach and humanitarian issues.
The appreciation shown to the Indian community in Dubai, together with programs like the Indian community hospital, highlight the value of interpersonal relationships and cooperative efforts.

Multilateral Cooperation and Regional Partnerships
The meeting between President Modi and Andry Rajoelina of Madagascar demonstrates India’s increased involvement with its neighbors.
Recognizing past connections and common interests, the leaders talked about how to improve bilateral ties and reaffirmed their commitment to security and mutual development through programs like SAGAR (Security and Growth for All in the Region).