Dubai and India Unveil Bharat Mart, Strengthening Trade Ties and Global Market Access

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, alongside Narendra Modi, Prime Minister of India, recently initiated the groundbreaking ceremony for Bharat Mart in Dubai. This event took place at the World Governments Summit 2024, with H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of The Executive Council of Dubai, in attendance. Bharat Mart is envisioned as a premier market and trading platform specifically designed for Indian businesses aiming to penetrate global markets.

DP World unveiled plans for Bharat Mart, which is slated to open its doors in 2026. The platform is set to provide Indian manufacturers and exporters with a state-of-the-art trading hub. The ceremony saw the presence of notable figures such as S Jaishankar, External Affairs Minister of India; Ajit Doval KC, National Security Advisor of India; Vinay Kwatra, Foreign Secretary, Ministry of External Affairs, Government of India; Sunjay Sudhir, Ambassador of India to the UAE; and Sultan Ahmed bin Sulayem, Chairman and CEO of DP World Group.

Sultan Ahmed bin Sulayem highlighted the significance of Bharat Mart in strengthening trade relations between the UAE and India. He emphasized that both nations aim to achieve US$100 billion in non-oil bilateral trade by 2030. Bharat Mart is expected to play a crucial role in reaching this target by offering Indian manufacturers an efficient gateway to the UAE and other lucrative markets across the Middle East, Europe, and Africa.

Abdulla Bin Damithan, CEO and Managing Director of DP World GCC, remarked on the dynamic trade landscape post-pandemic and reaffirmed DP World's commitment to fostering growth between the two nations. Bharat Mart will complement Jebel Ali Free Zone's (Jafza) existing offerings by providing Indian SMEs with a seamless platform for exporting their products to new markets.

The marketplace will span 2.7 million square feet, with the first phase covering 1.3 million square feet. It aims to serve as a mega distribution hub for Indian businesses within the UAE and for re-export purposes. Located in Jafza, Bharat Mart will be part of a broader trade ecosystem being developed by DP World through the Dubai Traders Market.

Bharat Mart is set to feature 1,500 showrooms for both retail and wholesale customers and over 700,000 square feet of Grade A warehousing space. The facility will offer numerous benefits including light industrial units, office spaces, and meeting facilities. Its strategic location near Jebel Ali Port and Al Maktoum International Airport ensures seamless logistics solutions for Indian exporters.

Dubai plays a pivotal role in facilitating trade between the UAE and India. In 2022 alone, 87 percent or US$44.9 billion of the total non-oil trade value between the two countries was conducted through Dubai. Currently, close to 1,500 Indian businesses operate in Jafza, trading over five million metric tonnes of cargo valued at US$8.6 billion.

With inputs from WAM