The relations between India and the UAE are growing stronger as India’s Prime Minister, Narendra Modi has recently inaugurated the BAPS Hindu temple of Dubai on Wednesday, 14 February 2024, and with that, a new initiative named Bharat Mart is also introduced.
On Wednesday, 14 February 2024, PM Narendra Modi inaugurated Bharat Mart in Dubai, which is a warehousing facility for Indian MSMEs. On the occasion of the event, Prime Minister, Mohammed bin Rashid Al Maktoum and prominent personalities were present while PM Modi laid the foundation of the Bharat Mart.
What is Bharat Mart?
Bharat Mart is a newly launched initiative by India’s warehousing facility set up in the UAE (United Arab Emirates) which will help grow Indian exports and will represent Indian products under one roof. The initiative of Bharat Mart will be a mart where all the products sold will be exported from India.
Bharat Mart is considered similar to China’s Dragon Mart. As per available information, Bharat Mart will be constructed over 1 lakh square meters and is expected to be constructed by 2025 and will also be inaugurated in 2025. It is also reported that Bharat Mart will be inaugurated by PM Narendra Modi only.
The Bharat Mart in the UAE will help in growing healthy relations between both countries and the mart will ensure providing all facilities like retail, hospitality facilities, and more in one place only.
5 things to know about Bharat Mart
Here are some points which will help to know about Bharat Mart:
- Bharat Mart will represent Indian authenticity as all the products for the supermarket will be exported from India. The Bharat Mart will consist of a warehouse, retail showrooms, offices, medical facilities, and more.
- Other than that the Bharat Mart will also have other variety of goods ranging from perishable goods to heavy machinery. It is also suggested that there can also be a digital platform for buyers across the world.
- The Bharat Mart will also play a key role in promoting India’s exports of micro, small, and medium sectors. It is expected that this partnership between India and the UAE will help in providing a platform to reach International buyers in West Asia and Africa.
- The Bharat Mart will be set up within the Jebel Ali Free Zone (JAFZA), which is a company of DP World. The initiative will benefit the Indian company that wants to spread its business internationally. India and the UAE are aiming to increase their non-petroleum trade to $100 billion by 2030.
- The Bharat Mart is also expected to strengthen bilateral trade by leveraging Jaebl Ali Port’s strategic location and strengthening its location. In 2022, India and the UAE are in the Comprehensive Economic Partnership Agreement which is going well.
Bharat Mart FAQs
A. Bharat Mart is a supermarket where all Indian manufactured products are sold.
A. Bharat Mart will soon be opened in the UAE.
A. Bharat Mart will be opened in the UAE in 2025.
A. Bharat Mart was launched by PM Narendra Modi in teh UAE.