News Desk, News Nation 360 : During a ceremony held at the World Governments Summit 2024, His Highness Sheikh Mohammed bin Rashid Al Maktoum, the Vice President and Prime Minister of the United Arab Emirates and the ruler of Dubai, and His Excellency Narendra Modi, the Prime Minister of the Republic of India, laid the foundation stone for Bharat Mart. On that day, DP World unveiled plans for Bharat Mart, a Dubai marketplace that will open in 2026 and provide Indian exporters and manufacturers with a top-notch trading platform to access international markets. Commenting on the launch, Rizwan Soomar, CEO & MD of DP World North Africa and India Subcontinent, stated that an important step towards reaching the goal of USD 100 billion in bilateral non-oil trade between India and the UAE is the establishment of Bharat Mart. By directly promoting exports from India, this initiative will help connect India's manufacturers with buyers from important markets like the Middle East, Africa, Central Asia, and Europe by showcasing goods manufactured in India at Bharat Mart. Bharat Mart will be crucial in opening up new opportunities for Indian exporters and accelerating trade between the two countries by utilising Dubai's strength as a significant hub for value addition, trading, and logistics due to its proximity to the Jebel Ali Port & Free Zone ecosystem. With a total area of 2.7 million square feet, of which 1.3 million square feet are devoted to the first phase, Bharat Mart is positioned to grow into a massive distribution centre where Indian companies can conduct local business in the United Arab Emirates and then re-export to other countries. Approximately 700,000 square feet of Grade A warehousing space and 1,500 showrooms serving both retail and wholesale clients are planned for Bharat Mart. Tenants will be able to take advantage of both free zone and onshore benefits. In addition, the building will have meeting rooms, offices and light industrial units. The market, which will be located in the Jebel Ali Free Zone (Jafza), will be a part of a larger trading ecosystem that DP World is creating through the Dubai Traders Market, a global marketplace that combines retail and wholesale.
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