New Delhi [India], February 14 : In a step towards bolstering bilateral trade between India and the United Arab Emirates (UAE), Prime Minister Narendra Modi and Prime Minister and UAE Vice President Sheikh Mohamed bin Rashid Al Maktoum, virtually laid the foundation stone of Bharat Mart at Jebel Ali Free Trade Zone in Dubai on Wednesday.
Bharat Mart, a project to be constructed by DP World, holds the promise of transforming the landscape of trade relations between the two nations.
According to a press release, the two leaders expressed confidence that Bharat Mart will propel India-UAE bilateral trade further by leveraging Jebel Ali Port's strategic location and strength in logistics.
During the virtual event, Prime Minister Modi underscored the pivotal role Bharat Mart is poised to play in fostering exports from India, particularly from the micro, small, and medium sectors.
By providing these sectors with a robust platform to showcase their products and engage with international buyers across regions such as the Gulf, West Asia, Africa, and Eurasia, Bharat Mart is expected to significantly boost India's presence in global markets, read the press release.
PM Modi said, "Bharat Mart has the potential to play an important role in promoting exports of the micro, small and medium sectors of India by providing them an effective platform to reach out to international buyers in the Gulf, West Asia, Africa, and Eurasia".
The foundation stone laying ceremony marks a milestone in the long-standing economic partnership between India and the UAE, further strengthening the ties between the two nations.
Bharat Mart's establishment is anticipated to open up new avenues for collaboration and economic cooperation, driving mutual prosperity and growth.
As Bharat Mart takes shape in Jebel Ali, Dubai, it embodies the spirit of economic vibrancy and cooperation, symbolizing the shared vision of India and the UAE in fostering inclusive growth and development through robust trade relations.
Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor