A Brief Overview of India’s Free Trade and Warehousing Zone
In OSV’s overview, you may learn everything there is to know about India’s Free Trade and Warehousing Zone and Valuable Foreign trade zone benefits.
Free trade zone warehouses in India are built inside a special economic zone that is created to develop logistical infrastructure and boost cross-border and global trade business.
OSV’s FTWZs function as major trade centers with integrated logistical infrastructure that includes specific storage facilities as per clients’ requirements, world-class VNA machinery, container yards, an internal container yard, a customs clearance department, and a state of the art infrastructure.
What is a Free Trade Zone Warehouse in India and How Does It Work?
A Free Trade Warehousing Zone in India is a facility where most distribution, trading, fulfillment, and warehousing activities take place. For trade and customs purposes, it is considered a deemed foreign territory inside India’s map.
There are three types of foreign trade zone benefits as shown below so you can get an idea for using this free trade zone warehouse in India.
Valuable Foreign Trade Zone Benefits
- On-site customs clearance and associated services are available 24/7.
- Pick, pack, labeling, checking, and other benefits are examples of foreign trade zone benefits.
- The presence of the supplies to Indian South East Asia from worldwide buyers and vice versa
- To avoid traffic congestion, there is a safe & comfortable entry and exit area for customs checks.
- Continuity of services
- Every FTWZ activity is handled through a single point of contact.
- Foreign firms’ ease of launching the business in India through FTWZ
- Exemption of Duty and Taxes for re-exporting foreign goods
- Transaction flexibility in freely convertible foreign currency
- Customs charges and GST are being deferred for 5 years
- Import cargo is exempt from the payment of the stamp charge and duty.
- Keep all types of foreign currency receipts in a foreign currency account.
- Possibility of providing value-added services and solutions.
- For short removal sales within FTWZ, we have in-house customs clearance processing and a bank account.
- No Costs of Demurrage, Delay, and Interest
- Warehouses with a high ceiling with a capacity of 10000 containers or more.
- Cargo and transport connectivity to the state-of-the-art infrastructure.
- The internal road system that can handle a lot of traffic
- Export consolidation center with a large capacity.
- A central operations control center with an interconnected smart building.
OSV’s significant experience has helped enterprises enhance efficiency and cut operating costs by delivering creative solutions that have changed cargo in India with foreign trade zone benefits.
OSV’s Free trade zone warehouse in India, which is deemed foreign territories and help companies efficiently manage their supply chain, ensure faster turnaround by reducing customs-related formalities, and maximize productivity improvements, are a real game-changer for all like, importers, exporters, and re-exporters by using Foreign trade zone and exploring its benefits.