PM Modi Inaugurates Bharat Mart: A Gateway to Enhance India-UAE Trade Relations

Prime Minister Narendra Modi and UAE Vice President Mohammed bin Rashid Al Maktoum laid the foundation stone of Bharat Mart recently, a pioneering initiative set to revolutionize the landscape of trade and logistics at the Jebel Ali Free Trade Zone in Dubai. This joint endeavor between DP World, a global leader in logistics and maritime services based in Dubai, and India’s commerce ministry aims to bolster exports by Indian small and medium-sized enterprises (SMEs), heralding a new era of economic cooperation between the two nations.

Bharat Mart, envisioned as a multifaceted hub combining retail, warehousing, and logistics facilities, is poised to become a strategic focal point for international trade. With comparisons drawn to China’s renowned Dragon Mart, this ambitious project spearheaded by DP World is slated for completion by 2025, covering an expansive area exceeding 100,000 square meters. The facility’s strategic location promises to streamline shipping processes, significantly reducing costs and transit times for goods traversing from India to key markets in Africa and Europe.

Prime Minister Modi and Vice President Mohammed bin Rashid expressed unwavering confidence in Bharat Mart’s potential to catalyze India-UAE trade relations, leveraging the Jebel Ali Port’s strategic positioning and robust logistics infrastructure. The External Affairs Ministry underscored their shared vision for enhancing bilateral economic ties through transformative initiatives like Bharat Mart, aimed at facilitating seamless access for Indian SMEs to international markets across the Gulf, West Asia, Africa, and Eurasia.

Addressing the significance of Bharat Mart in empowering India’s micro, small, and medium sectors, Prime Minister Modi emphasized its pivotal role in providing a global platform for Indian exporters. He highlighted the facility’s capacity to connect Indian businesses with international buyers, thereby fostering growth and competitiveness on a global scale.

In addition to the inauguration ceremony, Prime Minister Modi engaged in bilateral discussions with Vice President Mohammed bin Rashid, encompassing a spectrum of collaborative domains spanning trade, investment, technology, space, education, and cultural exchanges. Both leaders expressed satisfaction at the burgeoning economic and commercial collaboration between India and the UAE, underscoring the pivotal role of recent agreements such as the Comprehensive Economic Partnership Agreement and the bilateral investment treaty.

As Bharat Mart emerges as a beacon of collaboration between India and the UAE, and diplomatic engagements pave the way for strengthened ties with nations like Madagascar, the stage is set for a new chapter of prosperity and partnership in the global arena. With shared aspirations for inclusive growth and sustainable development, these initiatives reaffirm India’s commitment to fostering mutually beneficial relations with its international counterparts.

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