India Announces Plan For Dragon Mart-style ‘Bharat Park’ In UAE To Boost Trade
India will set up a goods showroom and warehouses for Indian goods in the UAE, Commerce and Textiles Minister, Piyush Goyal said.
The proposed facilities, christened as ‘Bharat Park’, will facilitate other countries of the world to buy Indian goods, the minister said.
Earlier media reports suggested the proposed Indian warehousing facility in the UAE will be similar to China’s Dragon Mart, and meant to allow its exporters to showcase their products under one roof.
The proposed ‘Bharat Park’ reportedly may include retail showrooms, warehouses, offices and ancillary facilities and will accommodate various categories of goods, from perishable items to heavy machinery.
It is likely to become operational by 2025.
The proposed facility is learnt to be part of the country’s efforts to boost bilateral trade with the UAE. India was the first country with which the UAE signed a Comprehensive Economic Partnership Agreement (CEPA).
