Key Benefits of Free Trade Warehousing Zone in India for Re-exporting

 

Free Trade Warehousing Zone in India

The role and responsibility of the Free Trade Warehousing Zone in India are vital in import and export goods from one region to another region. It is specifically a zone or area within which goods are usually landed, handled, manufactured, or reconfigured, and re-exported sans any customs authority’s interference. 

You can find a List of FTWZ in India that is strategically located around major seaports, international airports, and national frontiers. They aim to eliminate the issues of high tariffs and complex customs regulations when the goods are moved to consumers. 

The primary purpose of a free-trade zone is to remove from a seaport, airport, or border those hindrances to trade caused by high tariffs and complex customs regulations. They also help to fabricate, refinish, and store goods freely.

Free Trade Warehousing Zone in India Explained-

The foreign MNCs can hold their stocks as close to their markets as warehousing costs will permit and these zones aim at the supply of quality demanded by the market at least cost. These 3PL services offer endless facilities. 

FTWZs eliminate limitations of combining products from suppliers from different countries and the processes for end-distribution of products can be done at affordable prices. You can have more control over inventory and also quicker payments to the suppliers.

The automobile or IT hardware manufacturers can able to stock spares duty-free in the FTWZ to supply them according to their needs within a timeframe to the Indian market. The products can also be tested prior to actual supply and payment of duty. Also if there are defective spares, they can be re-exported sans any loss. These zones can be used to accumulate even motor vehicle kits or IT hardware or mobile phones by sourcing different parts duty-free from different countries. Different foreign MNCs can use FTWZs in India for different products. 

Free Trade Warehousing Zone in India for re-exports-

Exempts service tax on all activities carried out including rental & labor

Exemption from custom and stamp duty on products imported meant for re-export out of India

Income tax rebate on the profit earned (where applicable)

Stress-free re-export procedure

Approval of 100% FDI for the set-up of units

Control India's cost, skill & geographic positioning advantage 

All you just need to hire a professional and reliable 3PL service provider to take full advantage of the Free Trade Warehousing Zone in India. Make sure they have years of experience in this industry. For the best deal, you can visit www.onnsynex.com. 

Also Read: https://onnsynex.medium.com/how-free-trade-warehousing-in-india-can-ease-the-process-of-importing-exporting-beb64d7c1711

Top 6 Considerations to Decide on 3PL for List of FTWZ in India

As far as the List of FTWZ in India is concerned, it could be easily available online. However, you need to ascertain certain factors before that. You should know that many third-party logistics (3PL) providers are adversely impacted by the pandemic owing to social distancing, uncertain lockdowns, and closed borders. Make sure you are choosing the right one. 

Undoubtedly, we all have been witnessing the ramification of the COVID-19 pandemic worldwide. However, it is also adversely infecting e-commerce fulfillment worldwide and nearly half of the e-commerce brands are confronting virus-related shipping issues owing to the international border shutting and lockdowns affecting warehouses. Hence we can expect delayed delivery and disturbed replacement that cause a result of major sales decline. 

Free Trade Warehousing Zone in India

What is 3PL and when do you need it?

A professional 3PL service provider can help you in many ways. They enable you to outsource operational logistics from warehousing. As a client, you can gain a broader range of logistic solutions from expert 3PL companies. From transportation, warehousing, packing, inventory forecasting, order completion, to packaging and freight forwarding, they have got you covered. To summarize, they can boost the competence, control costs, and improve customer service.

Make sure a 3PL company is driving competence with automation and paperless warehousing. Perhaps, you are speculating when you should enlist a 3PL service to meet your demand. 

Let’s discuss few key considerations-

When you have more than 10-20 orders per day

When you don’t have enough space to store your inventory

When you cannot expand due to logistics issues

List of FTWZ in India

How to find a reliable 3PL service for Free Trade Warehousing Zone in India?

Below mentioned are the several points to find a reliable Free Trade Warehousing Zone in India - 

1. Thorough research- Make sure about a company with verified procedures, the right resources, and the skill to incorporate with your systems.

2. Good communication- They should understand your supply chain priorities. Make sure a company is compatible with your culture and values. Establish better communication.

3. A range of services- A 3PL should able to meet your needs it ensures a more seamless and scalable supply chain. 

4. Modern Technology- Make certain your 3PL has robust technology and provides modern technology solutions. 

Free Trade Warehousing Zone in India- Ensure that they can accommodate you with enough space to store your products. They should have customization abilities to optimize inventory and deliver excellent service. 

An incessant improvement - They ought to be committed to service excellence and quality management that ensure the best results. They should be also accustomed to Omni channel expertise. 

In a nutshell, when it comes to the List of FTWZ in India, many options are there. You need to find the best 3PL company. For the best deal, you can visit www.onnsynex.com.

Original Source: https://onnsynex.wordpress.com/blog/