PM Modi To Inaugurate Bharat Mart In Dubai: What Is It And Why Is It Crucial For India-UAE Trade?

(MENAFN- Live Mint) "Prime Minister Narendra Modi is on a two-day visit to the United Arab Emirates (UAE), during which he is scheduled to participate in various events. To streamline trade between Indian exporters and UAE consumers, PM Modi will launch Bharat Mart on Wednesday Modi Hindu Mandir (BAPS) Inauguration in UAE Live UpdatesIndia has taken a leaf out of China's playbook as Bharat Mart is going to be similar to the Chinese 'Dragon Mart' facility. It will serve as a warehousing facility for Indian MSMEs to trade in Dubai and work as a unified platform for Indian exporters to showcase their products in the Gulf nation Dragon Mart, India's Bharat Mart is still in the conceptual stages and will be virtually launched. The platform is expected to be operational by 2025 Mart: A hub for commercial activitiesBharat Mart is expected to cover an expansive space surpassing 100,000 square meters, serving as a flexible and multifunctional facility that accommodates warehouse, retail, and hospitality services. The mart will be positioned to function as an all-encompassing destination that addresses diverse commercial requirements and activities per the reports, Bharat Mart will be located at Jebel Ali Free Zone (JAFZA) and will be overseen by DP World facility is expected to have display spaces, office facilities, warehouses, and associated services to accommodate a wide range of product categories, ranging from heavy machinery to perishable items. Furthermore, there are intentions to establish a digital platform that facilitates convenient sourcing of goods from the facility for global buyers for India-UAE CEPABharat Mart will provide a boost to India-UAE trade and is going to be crucial for the terms set under the Comprehensive Economic Partnership Agreement (CEPA) which speaks about doubling the India-UAE non-petroleum trade target to $100 billion by 2030.“The idea is to set up a base and do trading from the UAE. The genesis of this project is that China has similar facilities there which are helping their exporters,” an official told the Economic Times.

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