- By Anushka Vats
- Wed, 14 Feb 2024 04:51 PM (IST)
- Source:JND
Prime Minister Narendra Modi on Wednesday held a bilateral meeting with UAE Vice President and Prime Minister, and Ruler of Dubai Sheikh Mohammed bin Rashid Al Maktoum. The Prime Minister on his visit will also inaugurate Bharat Mart, a warehouse facility where Indian MSMEs can store their goods in Dubai.
What Is Bharat Mart?
Bharat Mark will be an Indian warehousing facility that will provide one single platform to all the exporters, enabling them to put up different products under one roof. According to several media reports, it will span an area of more than 1,00,000 square meters and is likely to be set up in the Jebel Ali Free Zone (JAFZA) by 2025.
In order to serve a wide range of products, from heavy machinery to perishables, Bharat Mart will have retail showrooms, offices, and warehouses. In addition, a digital platform will be developed so that buyers from around the world may easily source goods from the facility.
The Bharat Mart project is important to both India and UAE as under the terms of the Comprehensive Economic Partnership Agreement (CEPA), India and the UAE intend to double their non-petroleum trade objective to USD 100 billion by 2030.
PM Modi's UAE Visit
PM Modi is on an official visit to the United Arab Emirates (UAE) to inaugurate the BAPS Hindu Temple in Abu Dhabi later on Wednesday. He will address the World Government Summit, prior to the inauguration of the BAPS Hindu Temple.
On Tuesday, PM Narendra Modi and UAE President Mohamed bin Zayed Al Nahyan held a bilateral meeting, and several Memoranda of Understanding (MoUs) were exchanged in their presence.
PM Modi also addressed the Indian diaspora at the 'Ahlan Modi' event held in Sheikh Zayed Sports Stadium in Abu Dhabi.
Prime Minister Narendra Modi thanked UAE President Mohammed bin Zayed Al Nahyan for the BAPS Hindu Temple that will be inaugurated today and said that it reflects his love and respect for India.