With an aim to bolstering trade relations and enhancing export opportunities for Indian businesses, Prime Minister Narendra Modi and UAE Vice President Mohamed bin Rashid Al Maktoum jointly laid the foundation stone for Bharat Mart in Dubai. This landmark initiative, a collaboration between DP World and India’s commerce ministry, is set to revolutionize the export landscape for Indian small and medium-sized enterprises (SMEs).
During a virtual ceremony, the leaders underscored the strategic importance of Bharat Mart, which will integrate retail, warehousing, and logistics facilities within the Jebel Ali Free Trade Zone. Drawing comparisons to China’s Dragon Mart, this sprawling facility spanning over 100,000 square meters is slated to become operational by 2025.
The establishment of Bharat Mart is poised to significantly reduce shipping costs and transit times for Indian goods destined for markets in Africa and Europe. Prime Minister Modi emphasized its potential to serve as a vital platform for promoting exports from India’s micro, small, and medium sectors to international buyers across the Gulf, West Asia, Africa, and Eurasia.
Modi and Mohamed bin Rashid hailed the growing economic and commercial ties between India and the UAE, underscoring the significance of recent agreements such as the Comprehensive Economic Partnership Agreement and the bilateral investment treaty. They also acknowledged the invaluable contributions of the Indian diaspora to Dubai’s stature as a global trade, services, and tourism hub.
Moreover, Modi expressed gratitude for the UAE’s support toward the Indian community in Dubai, particularly through initiatives like the Indian community hospital offering affordable healthcare facilities for blue-collar workers. He extended an invitation to the ruler of Dubai to visit India, highlighting the shared commitment to strengthening bilateral cooperation across various sectors.
