In the UAE, Prime Minister Narendra Modi will open Bharat Mart. What is this?

In the UAE, Prime Minister Narendra Modi will open Bharat Mart. What is this?

Like China's "Dragon Mart," Bharat Mart will be visually introduced since the idea is still being worked out and is probably going to be operational by 2025.

Prime Minister Narendra Modi will soon open Bharat Mart, a warehouse that would allow Indian MSMEs to do business in Dubai. Indian exporters would be able to display a range of goods on one integrated platform.

During the 'Ahlan Modi' event at Zayed Sports Stadium, Prime Minister Narendra Modi is waving to the crowd.

Like China's "Dragon Mart," Bharat Mart will be visually introduced since the idea is still being worked out and is probably going to be operational by 2025.

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Bharat Mart: What is it?

Forecasts state that the market would occupy more than 100,000 square meters and serve as a multifunctional, adaptable space for retail, hotel, and warehousing.

Bharat Mart, managed by DP World and situated in the Jebel Ali Free Zone (JAFZA), is positioned to function as a comprehensive hub for a range of company requirements and endeavors.

Bharat Mart would accommodate a wide range of products, from heavy equipment to perishables, including retail showrooms, offices, warehouses, and support services.

Furthermore, there are plans to create a digital platform that would make it simple for customers across the world to obtain products from the convenience

The Bharat Mart project takes on importance as part of the Comprehensive Economic Partnership Agreement (CEPA), India and the UAE want to quadruple their non-petroleum trade objective to $100 billion by 2030.

An insider told The Economic Times, "The idea is to set up a base and do business from the UAE." The idea for this initiative came from the fact that China has comparable infrastructure that benefits its exporters.

"Bharat Mart is positioned to develop into a massive distribution center to facilitate the export of made-in-India goods worldwide," said Abdullah Al Hashmi, DP World GCC's chief operating officer for parks and zones, in an interview with ET.

Modi's trip to the UAE

From February 13 to 14, Prime Minister Narendra Modi will be visiting the United Arab Emirates (UAE) for two days. The prime minister will meet with the senior officials of one of India's closest strategic allies in West Asia as well as open the first Hindu temple in the United Arab Emirates, the BAPS Temple.

President Al Nahyan of the UAE gave Modi a warm greeting as soon as he arrived at the airport on Tuesday, and the two men shook hands and gave each other hugs. Thanking UAE President Mohammed bin Zayed Al Nahyan for the BAPS Hindu Temple, Prime Minister Modi emphasized the temple's significance as a symbol of friendship and respect between the UAE and India.

Additionally, on Tuesday, India and the United Arab Emirates inked a deal for a commercial corridor that would use both rail and maritime travel to link Europe and India via certain regions of the Middle East. With backing from the US and the EU, this bold project intends to improve connectivity and commercial ties among the participating areas.

Modi will meet one-on-one with the President of the UAE on Wednesday, and then he will meet with the Vice President of the UAE thereafter. He will essentially open Bharat Mart after this. Following this, Prime Minister Modi will give a speech at the 2024 World Government Summit before dedicating the BAPS Hindu Temple in Abu Dhabi.