The foundation stone of Bharat Mart, which will combine retail, warehousing and logistics facilities at Jebel Ali Free Trade Zone in Dubai, was laid during a virtual ceremony by Prime Minister Narendra Modi and the United Arab Emirates (UAE) vice president, Mohammed bin Rashid AI Maktoum, on Wednesday.
Bharat Mart is a joint initiative of DP World, a Ďubai-based multinational that specialises in logistics, port terminal operations and maritime services, and India's commerce ministry that is aimed at boosting exports by Indian small and medium sized enterprises.
The facility, which has been compared to China's Dragon Mart, will be built by DP World and is expected to be operational by 2025. The facility, which is set to cover more than 100,000 sq m, will help cut the cost and time for shipping goods from India to Africa and Europe.
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