Prime Minister Narendra Modi and his UAE counterpart Sheikh Mohamed bin Rashid Al Maktoum on Wednesday virtually laid the foundation stone of Bharat Mart.
The move is aimed to offer the Indian MSME sector an effective platform to reach out to international buyers.
“Modi and Maktoum took part in the virtual foundation laying event at Jebel Ali Free Trade Zone for the Bharat Mart that will be built by DP World” Ministry of External Affairs stated.
Modi asserted, that “Bharat Mart has the potential to play an important role in promoting exports of the micro, small, and medium (MSME) sectors of India by providing them an effective platform to reach out to international buyers in the Gulf, West Asia, Africa, and Eurasia"
India 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.
Bharat Mart is expected to cover an expansive space surpassing 1,00,000 square meters serving as a flexible and multifunctional facility that accommodates warehouse, retail, and hospitality services.
The mart will be positioned to function as a holistic destination that addresses every commercial requirement and activities.
As per the reports, Bharat Mart will be located at Jebel Ali Free Zone (JAFZA) and will be overseen by DP World.
The facility is expected to offer display spaces, office facilities, warehouses, and associated services to accommodate a wide range of product categories, ranging from heavy machinery to perishable items.
Further, there are intentions to establish a digital platform that facilitates convenient sourcing of goods from the facility for global buyers.
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