Friday , April 19 2024

Foundation stone of 'Bharat Mart' laid in Dubai, will give competition to China, know its features – News India Live

Bharat Mart: Recently PM Modi visited UAE. Along with the inauguration of a Hindu temple in UAE, PM Modi also laid the foundation stone of Bharat Mart. Bharat Mart is also said to be part of India's strategy to compete with China in the global economy and supply chain.

The entire concept of Bharat Mart is still intact

PM Modi and UAE Vice President Mohammed bin Rashid Al Maktoum laid the foundation stone. Therefore, it can be said that the formal foundation stone of Bharat Mart has just been laid. Also, its construction work is still in progress, its complete concept is yet to be revealed. However, it is expected to begin operations as soon as construction begins next year.

Mart will be equipped with these facilities

As the name suggests Bharat Mart will be like a mart. Which will provide an international platform in Dubai for Indian exporters to showcase their various products under one roof. It will be constructed in Jebel Ali Free Zone i.e. Jafza of Dubai. Spread over 1 square meter, this mart will have facilities like warehouse, retail, hospitality, showroom, office etc. There is a plan to create a digital platform under Bharat Mart, which will allow buyers from all over the world to buy all types of Made in India products at one place.

The location of Bharat Mart also has geographical significance.

The free zone known as Jafza where Bharat Mart will be built is close to Jebel Ali port. Which will open new global trade routes for Bharat Mart. Therefore, it can be said that Bharat Mart based in Dubai will open a window to the global market for Indian exporters, especially MSMEs.

China has benefited from Dragon Mart

At present, China's Dragon Mart is running in Dubai. Which has helped China find markets for its products across the world. It has also contributed to China's economy. Now Bharat Mart will also do this work for Indian manufacturers so that China gets proper competition.