Prime Minister Narendra Modi, in a virtual ceremony with UAE Vice President Sheikh Mohammed bin Rashid Al Maktoum, laid the foundation stone for a game-changing project: the Bharat Mart in Dubai. This 100,000 sqm facility, aiming to be operational by 2025, promises to revolutionize Indian exports by offering combined retail, warehousing, and logistics in the Jebel Ali Free Trade Zone.
Bharat Mart: A Dragon Mart for India
Bharat Mart draws comparisons to China’s hugely successful Dragon Mart, and with good reason. This joint initiative by India’s commerce ministry and DP World, a Dubai-based logistics giant, aims to empower Indian small and medium-sized enterprises (SMEs) by bridging the gap between them and international buyers, particularly in Africa, Europe, and the Gulf region.
Strategic Location, Shortened Routes:
By leveraging Jebel Ali Port’s strategic location and robust logistics infrastructure, Bharat Mart promises to significantly reduce both cost and time for Indian exports. This reduction would be a major boon for SMEs, often struggling with international shipping complexities and costs.
Boosting Trade, Strengthening Ties:
Both Prime Minister Modi and Sheikh Mohammed bin Rashid expressed confidence that Bharat Mart will act as a springboard for enhanced India-UAE trade. The project aligns perfectly with the Comprehensive Economic Partnership Agreement signed in 2022 and the recent bilateral investment treaty, further solidifying the economic and commercial ties between the two nations.
Beyond Business:
Beyond its economic significance, Bharat Mart holds symbolic value. Prime Minister Modi acknowledged the significant Indian community in Dubai, thanking Sheikh Mohammed bin Rashid for their well-being and recognizing their contribution to the city’s growth. The planned Indian community hospital, facilitated by land granted by the Dubai ruler, exemplifies this commitment to the Indian diaspora.
Building Partnerships:
On the international stage, Prime Minister Modi also met with Madagascar President Andry Rajoelina, discussing ways to strengthen bilateral ties and reiterating India’s commitment to supporting Madagascar’s development under the SAGAR initiative for the Indian Ocean region.
Looking Ahead:
The foundation stone of Bharat Mart marks a significant step forward in India’s export ambitions. By providing a platform for SMEs, streamlining logistics, and strengthening partnerships, this ambitious project promises to be a game-changer for Indian businesses and a symbol of the growing economic and strategic ties between India and the UAE.