Prime Minister Narendra Modi’s recent visit to the United Arab Emirates is much discussed. PM Modi’s visit is making headlines even outside the country. The main reason is Bharat Mart, the foundation stone laid by PM Modi on Wednesday. It is being told that this Bharat Mart is part of India’s strategy to compete with China in the global economy and supply chain. This mart is expected to help India a lot in replacing China in the worldwide supply chain in the coming years.
Expected To Begin Operations in 2025
First of all, know that the formal foundation stone of Bharat Mart has just been laid. UAE Vice President Mohammed bin Rashid Al Maktoum and Prime Minister Modi have laid the foundation stone. Its complete concept has not yet been revealed, nor has its construction work started. However, the construction work will begin soon, and Bharat Mart is expected to start operations next year.
Mart Will Have All These Facilities
As the name suggests, Bharat Mart will be like a mart. It will provide an international platform for Indian exporters in Dubai to showcase their various products under one roof. Bharat Mart will be built in the Jebel Ali Free Zone, i.e. Jafza of Dubai. Jafza is managed by DP World. This proposed mart will be spread over more than 1 square meter. There will be many types of facilities in the Mart complex, which include warehouses, retail, hospitality, etc.
Digital Platform Also Planned
There will also be facilities inside Bharat Mart, like a showroom, office, etc. The warehouse facility of the mart will have the facility to store everything from heavy machines to perishable goods. It is also being claimed in some reports that there is a plan to create a digital platform under Bharat Mart, which will allow buyers from all over the world to buy all types of Made in India products in one place.
Global Market Window Will Open
The geographical location of the Jebel Ali Free Zone, where Bharat Mart will be built, is also critical. The free zone known as Jafza is near Jebel Ali Port. That is, due to its strategic geographical location, it will be easy for Bharat Mart to integrate with global trade routes and supply chains. Overall, it can be said that Bharat Mart, based in Dubai, will open the window to the global market for Indian exporters, especially MSMEs.
China Benefited From Dragon Mart
Currently, China’s Dragon Mart is already running in Dubai. Dragon Mart has helped Chinese companies find markets for their products worldwide. Manufacturing and export significantly contribute to the progress of China’s economy. China is also called the factory of the world. Dragon Mart ensures the market for the goods manufactured in China, which is called the factory of the world. Once ready and operational, Bharat Mart will do this for Indian manufacturers.
