Mumbai, 7 October 2024

 

At the 12th Meeting of the India-UAE High Level Joint Task Force on Investments held in Mumbai on October 7, 2024, which was co-chaired by Shri Piyush Goyal, Commerce & Industry Minister of India, and His Highness Sheikh Hamed bin Zayed Al Nahyan, Managing Director of Abu Dhabi Investment Authority, the two leaders expressed satisfaction on the progress being made by Bharat Mart. 

Project design on Bharat Mart

It is noteworthy that Prime Minister of India Narendra Modi and His Highness Sheikh Mohamed bin Rashid Al Maktoum, Vice President, Prime Minister, and the Ruler of Dubai, laid the foundation stone of Bharat Mart at Jebel Ali Free Trade Zone in Dubai on February 14, 2024, during the Prime Minister’s visit to the UAE. At that time, the two leaders had expressed confidence that Bharat Mart will propel India-UAE bilateral trade further by leveraging Jebel Ali Port’s strategic location and strength in logistics and further boosting India’s exports to the world. Work on the ground has commenced, and design work on the layout of retail spaces and warehousing is making rapid progress. 

Hon’ble Prime Minister of India Narendra Modi and His Highness Sheikh Mohamed bin Rashid Al Maktoum, Vice President, Prime Minister, and the Ruler of Dubai, at the stone-laying ceremony of the project in February 2024.

Bharat Mart, which is being built by UAE’s major logistics company DP World, is envisaged as a marketplace that provides Indian traders, exporters, and manufacturers access to markets in the Middle East, Africa and Eurasia. The facility will offer the benefits of free zone and mainland retail markets, as well as provide Indian companies with access to world-class logistics of DP World. The project is expected to be completed in 2026. Till now, over 9000 EoIs have been received by DP World for the 1400 units spread across an area of 1,00,000 sq mt. 

 

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