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Bharat Mart Launches as Premier Marketplace for Indian Businesses in Dubai

 

In Dubai, a significant milestone was marked as His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, and Ruler of Dubai, alongside Indian Prime Minister Narendra Modi, laid the foundation stone for Bharat Mart. This initiative, unveiled by DP World, is poised to be a pivotal market and trading platform for Indian businesses in Dubai. The foundation-laying ceremony took place during the World Governments Summit 2024.

DP World, a global logistics company, envisions Bharat Mart as a revolutionary trading platform, scheduled to open its doors in 2026. The primary objective of Bharat Mart is to provide a robust trading platform for Indian manufacturers and exporters, facilitating their access to global markets. Sultan Ahmed bin Sulayem, Chairman and CEO of DP World Group, emphasized the strategic importance of this venture in fostering stronger trade ties between the UAE and India.

The ambitious goal of reaching $100 billion in non-oil bilateral trade by 2030 between the UAE and India received a significant boost with the establishment of Bharat Mart. This initiative aligns with and supports key government initiatives such as Make in India and D33. Sultan Ahmed bin Sulayem highlighted that Bharat Mart, situated in the Jebel Ali Free Zone (Jafza), with its world-class infrastructure, logistics capabilities, and business-friendly ecosystem, will serve as an ideal gateway for Indian goods to efficiently reach not only the UAE but also other high-growth markets in the Middle East, Europe, and Africa.

Abdulla Bin Damithan, CEO and Managing Director of DP World GCC, emphasized India's position among the UAE's top five trade partners and the dynamic trade landscape that has evolved, especially in the post-pandemic economic surge. Bharat Mart is strategically designed to complement Jafza's existing offerings, providing a seamless platform for Indian SMEs to export their cargo to new markets.

Envisaged over an expansive area of 2.7 million square feet, with the first phase covering 1.3 million square feet, Bharat Mart is poised to become a mega distribution hub. This hub will empower Indian businesses to engage in domestic trade within the UAE and re-export to regional and global markets. Located within the Jebel Ali Free Zone, Bharat Mart will be part of a broader trade ecosystem developed by DP World, including the Dubai Traders Market, a hybrid retail and wholesale marketplace hosting traders from around the world.

Bharat Mart is projected to house 1,500 showrooms catering to both retail and wholesale customers, along with over 700,000 square feet of Grade A warehousing space. This comprehensive facility will provide tenants with combined free zone and onshore benefits, including light industrial units, office spaces, and meeting facilities.

The strategic location of Bharat Mart, just 11 km from Jebel Ali Port and 15 km from Al Maktoum International Airport, ensures multimodal connectivity for Indian exporters. This advantageous position in the Jebel Ali ecosystem provides direct connectivity to over 150 maritime destinations and air links to more than 300 cities.

Dubai's integral role in the trade relationship between the UAE and India is underscored by the statistics from 2022, where 87% or $44.9 billion of the total non-oil trade value of $51.4 billion flowed through the emirate. Close to 1,500 Indian businesses have chosen Jafza as their base in the UAE, collectively trading more than 5 million metric tonnes of cargo valued at $8.6 billion.

In summary, Bharat Mart represents a substantial leap towards enhancing trade ties between the UAE and India, offering a state-of-the-art platform for Indian businesses to thrive in the vibrant economic landscape of Dubai and beyond.


 

Feb. 15, 2024 4:31 p.m. 1503

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