Key Objective and Benefits of Free Trade Warehousing in India

No matter large manufacturers or individuals as well as domestic or foreign MNCs, Free Trade Warehousing in India can play a significant role in easing this process. However, many companies are oblivious to the various benefits of the FTWZ program in India. It improves global market competitiveness and minimizes bureaucratic regulations. 

A key objective of FTWZ in India-

When we talk about the key objective of Free Trade Warehousing in India, you must know first know that it is specially intended to make trade-related infrastructure to ease the import and export of goods and services. It gives freedom while performing trade transactions with free currency. 

FTWZs are precisely creating or design with the first-class infrastructure for warehousing of various products, modern equipment, transportation, and managing facilities, commercial office space, communications and connectivity, water, power, approval of import and export formality, to support the manufacturing companies across the globe. 

The most important factor is FTWZs are exclusively available in locations nearby seaports, airports, or dry ports thus ensuring there will be no hassle in the transporting process. Also, it counts as a special category of Special Economic Zones to ease trading and warehousing.

List of FTWZ in India

Key features of FTWZs in India-

FTWZs territories are considered as Ports / Warehouse for Storage and other value-added services under the Customs Law. You can store the goods and products in these zones on behalf of foreign suppliers or domestic buyers. 

It enables numerous transfers of ownership transactions and it doesn’t need to exclusion of the goods out of FTWZ. Essentially, there will be no cascade of indirect taxes or compliance as well as it offers the facility for less transaction cost.

It exempts Income Tax on export income, Central Sales Tax, Service Tax for all activities in the FTWZ and without any maturity restriction. 

Free Trade Warehousing in India

It offers single permission for Central and State level approvals

Free Trade Warehousing in India exempts from VAT for procurement from India and reduces expenses.

It reduces the time for Customs clearances and most importantly, the enhanced and advanced logistics and connectivity promotes reduced delivery times.

Are you finding the List of FTWZ in India? There are many reputed and highly-recognized firms available in India to help you in easing this process. However, you need to ensure that you are in the right place. By conducting thorough research, you will able to get effectively the List of FTWZ in India. 

No matter you are a domestic player of Foreign MNC, you can visit www.onnsynex.com to get the best yet affordable deal.

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The Role of FTZ in India and Its Key Features

Whether you are importing or exporting goods from India, taking the assistance of a professional FTZ in India is a smart move. You can directly contact government agencies to acquire these facilities. However, if you want to make the most out of these opportunities, you must hire a professional, licensed, and reliable FTZ Players in India that can meet your needs and specifications. 

Many reputed private FTZ Players are available in India, approved by the government of India and they have been serving these services to their clients with a wide scope of value addition. However, it requires an extensive research to find out the best source and get the best deal. 

FTZ in India

What is the free trade zone (FTZ)?

FTZ in India is a specific class of special economic zone. These FTZs are a geographic area that are deemed to be a foreign territory and are strategically located nearby major seaports, international airports, and other locations with strong transportation ties where goods may be landed, stored, handled, assembled, reconfigured, and re-exported. All these operations are carried out under ease without the intervention of the customs authorities.

Although these free trade zones were not great in condition earlier, the government announced development plans for SEZs in late 2015. Now, these zones are highly advanced in terms of infrastructure, storage facilities, modern technology, security, and safety.

Custom duties are eliminated in these zones and are only charged on the part of shipment that moves out of FTZ in India for Domestic Tariff Area sale. In these zones, import of raw materials and the export of factory products can be performed as well as it helps to reduce trade barriers to minimum.

FTZ Players in India

Key benefits of FTZs-

Lower risks-

All the operations of import and export carry out via an uninterrupted integrated solution. It lessens compliance risk and other security risks as the intervention of customs authority is to the minimum.  

Increase cash flow-

A professional and skilled team of FTZ experts can help you in many ways. No matter you are seeking help at a warehouse, at a manufacturing location, or in a services facility, they have got you covered. You can gain benefits from improved flexibility towards end-distribution. These FTZs enhance your cash flow by deferring duty & tax, creating a superior inventory visibility, and boosting supply chain rate for re-exporting goods, and thus create savings in the existing business.

A reputed and reliable FTZ Players in India can offer value-added services, including labeling, packing, kitting, sorting, custom crating, repackaging, and many more. They can customize their activities according to the client’s requirements. 

For availing the best FTZ in India and that too located in the epicenter of it, you can visit our website.

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