RBI Eases Export Norms for Bharat Mart Warehouses in UAE

New Delhi, Apr 24 (KNN) In a strategic move to bolster India's global trade footprint, the Reserve Bank of India (RBI) has relaxed export regulations for Indian businesses operating through 'Bharat Mart', a forthcoming logistics hub in the United Arab Emirates (UAE).

Announced on April 23, 2025, the RBI's directive permits Indian exporters to repatriate the full value of goods sold from Bharat Mart warehouses within nine months of the sale date. 

This adjustment aims to streamline financial operations for exporters, enhancing their cash flow and operational efficiency.

Furthermore, Indian exporters possessing a valid Importer Exporter Code (IEC) can now establish or lease warehouses within Bharat Mart without prior conditions. 

Banks are instructed to facilitate these arrangements after assessing their feasibility, covering both initial setup and ongoing operational expenses.

Bharat Mart, situated in Dubai's Jebel Ali Free Zone, is envisioned as a comprehensive trade facility encompassing warehousing, retail, and hospitality services. 

Modeled after China's Dragon Mart, it seeks to provide Indian exporters with a centralized platform to showcase and distribute their products across the Middle East, Africa, and Eurasia.

The initiative aligns with the India-UAE Comprehensive Economic Partnership Agreement (CEPA), targeting a doubling of non-petroleum trade to USD 100 billion by 2030. 

By easing regulatory constraints, the RBI's measures are poised to empower Indian micro, small, and medium enterprises (MSMEs) to expand their international reach through Bharat Mart.

(KNN Bureau)