What Is Bharat Mart? Know About Project Whose Foundation Stone Was Laid By PM Modi In Dubai

Prime Minister Narendra Modi on Wednesday virtually laid the foundation stone for Bharat Mart in Jebel Ali in Dubai.

Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai also present at the inauguration event.

According to MEA's Official Spokesperson Randhir Jaiswal, Bharat Mart is a hybrid marketplace for Indian businesses. It will provide them access to global markets by leveraging the strategic location and strength in logistics of Jebel Ali port.

The Bharat Mart will likely cover an area of more than 100,000 square meters, according to an NDTV report. The hybrid marketplace will be set up in the Jebel Ali Free Zone (JAFZA) and it will be managed by DP World, it added. The facility is expected to be operational by 2025, as per multiple media reports.

India and the UAE have inked 10 pacts for collaboration in key sectors like energy, infrastructure, investments, and management of archives during Prime Minister Narendra Modi's visit to further strengthen the bilateral relationship, Foreign Secretary Vinay Kwatra said in Abu Dhabi on Wednesday.

Addressing a press conference on the second day of the Prime Minister's visit to Abu Dhabi, he said the bilateral trade between the two countries already stands close to USD 85 billion and up as the fourth largest investor in the Indian economy.

Kwatra said the Inter-governmental Framework Agreement concerning Cooperation for the Empowerment and Operation of the India-Middle East-Europe Economic Corridor (IMEC) will further regional connectivity.

During his visit, Prime Minister Modi also interacted with the first batch of students at IIT Abu Dhabi. On Tuesday evening, he addressed a gathering of the Indian diaspora at Zayed Sports City in an event called 'Ahlan Modi'.

PM Modi later on Wednesday will inaugurate the first Hindu temple in Abu Dhabi and lead a dedication ceremony.

(With PTI inputs)