Bharat Mart, India’s Mega Project In Dubai

Prime Minister Narendra Modi on February 14 inaugurated ‘Bharat Mart’ in Dubai, which is a warehousing facility for Indian MSMEs. Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister, and...

Ruby Thakur
February 15, 2024
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Prime Minister Narendra Modi on February 14 inaugurated ‘Bharat Mart’ in Dubai, which is a warehousing facility for Indian MSMEs. Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister, and the Ruler of Dubai was also present at the event.

Bharat Mart, India’s Mega Project In Dubai

Why In News

Prime Minister Narendra Modi on February 14 inaugurated ‘Bharat Mart’ in Dubai, which is a warehousing facility for Indian MSMEs. Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister, and the Ruler of Dubai was also present at the event.

Bharat Mart: Digital Platform Integration

Bharat Mart, a proposed warehousing facility by India in the United Arab Emirates (UAE), is set to become operational by 2025. This facility aims to provide a platform for Indian exporters to showcase their products under one roof, similar to China’s ‘Dragon Mart’.

With an expected coverage area of over 100,000 square meters, Bharat Mart will be a multipurpose facility offering a mix of warehouse, retail, and hospitality units.
One of the key highlights of the Bharat Mart project is the plan to establish a digital platform for buyers across the globe to procure goods from the facility.
This digital platform will enable seamless transactions and facilitate trade between Indian exporters and international buyers.

It will provide a convenient and secure channel for buyers to explore and purchase a wide range of products showcased at Bharat Mart.
This will not only boost the visibility and accessibility of Indian products but also foster stronger economic ties between the two nations.
Bharat Mart is an ambitious project that will serve as a game-changer for Indian exporters in the UAE market. With its comprehensive facilities, digital platform, and strategic location, it is poised to become a thriving hub for trade and commerce.

The Bharat Mart project is located in the Jebel Ali Free Zone (JAFZA), managed by DP World.
The establishment of Bharat Mart holds significant importance as it aligns with the shared goals of India and the UAE to enhance trade relations.

The two countries have set a target to double their non-petroleum trade to $100 billion by 2030, as part of the Comprehensive Economic Partnership Agreement (CEPA) that came into effect last year.
Bharat Mart will play a crucial role in achieving this target by providing a dedicated platform for Indian exporters to showcase their products and attract international buyers.
With its comprehensive facilities, digital platform, and strategic location, it is poised to become a thriving hub for trade and commerce.
It will feature retail showrooms, warehouses, offices, and ancillary facilities catering to various categories of goods, from heavy machinery to perishable items.

This comprehensive setup will ensure that Indian exporters have a convenient and efficient platform to exhibit their products and expand their reach in the UAE market.
“Bharat Mart is poised to become a mega-distribution hub to support the exports of made in India products to the world,” said Abdulla Al Hashmi, chief operating officer, Parks and Zones, DP World GCC told Economic Times, adding that it will benefit Indian companies planning to expand their operations into Africa, Europe and the US.

Other Agreements

India and the UAE have signed 10 agreements to collaborate in areas such as energy, infrastructure, investments, and archive management.
The UAE is one of India’s closest strategic and energy partners in West Asia, and trade was boosted by the signing of a free trade agreement (FTA) in 2022.

A new memorandum of understanding (MoU) on cooperation in electrical interconnection and trade will open up new areas of collaboration in energy, including energy security.
The two sides signed separate agreements for linking their instant payment platforms – India’s Unified Payment Interface (UPI) and the UAE’s AANI – and their domestic debit and credit cards, India’s RuPay with the UAE’s Jaywan.

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Ruby Thakur

General Studies Lecturer SSBCrackExams, BSc In PCM, Trained Students For State Services Exams. Expertise in Geography ,Polity & Current Affairs. Love Travelling.