Dubai, UAE, 14 February 2024: His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and His Excellency Narendra Modi, Prime Minister of the Republic of India, laid the foundation stone for Bharat Mart, today during a ceremony at the World Governments Summit 2024.

DP World today unveiled plans for Bharat Mart, a Dubai marketplace set to open in 2026 that will offer a world-class trading platform for Indian manufacturers and exporters to access global markets.

HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council of Dubai, also attended the ceremony. S Jaishankar, External Affairs Minister of India; Ajit Doval KC, National Security Advisor of India; Vinay Kwatra, Foreign Secretary, Ministry of External Affairs, Government of India; Sunjay Sudhir, Ambassador of India to the UAE; Sultan Ahmed bin Sulayem, Group Chairman and CEO of DP World, and members of DP World’s senior leadership team.

Sultan Ahmed bin Sulayem, Group Chairman and CEO, DP World, said: “By laying the foundations for Bharat Mart, we are paving the way for stronger trade ties between the UAE and India. Our nations have set themselves the target of reaching $100 billion in non-oil bilateral trade by 2030, and Bharat Mart will support this goal, creating more opportunities for Indian manufacturers and contributing to government initiatives like Make in India and D33.  With our world-class infrastructure, logistics capabilities and business-friendly ecosystem in Jafza, Bharat Mart will be the ideal gateway for Indian goods to efficiently reach the UAE and other high-growth markets in the Middle East, Europe and Africa.”

Commenting on the launch, Rizwan Soomar, CEO & MD, DP World North Africa and India Subcontinent, said, “The establishment of Bharat Mart is an important milestone towards achieving the objective of USD 100 billion non-oil bilateral trade between India and UAE. This initiative will help connect India’s manufacturers with buyers from key markets such as Middle East, Africa, Central Asia, and Europe by showcasing goods manufactured in India at Bharat Mart, directly promoting exports from India. With its proximity to the Jebel Ali Port & Free Zone ecosystem, Bharat Mart will play a pivotal role in unlocking new possibilities for Indian exporters and further boost trade between the two nations by leveraging Dubai’s strength as an important hub for value addition, trading, and logistics”.