FTWZs Transforming India’s Business Canvas
The Indian logistics industry is at the cusp of a significant transformation with strong structural changes that are expected to boost the economy and the country’s standing on the global platform. Domestic and foreign investments are creating positive sentiment, and FTWZ footprint is expected to expand in Tier II & III cities in the near future. Mr. Indranil Dasgupta, CEO, Attivo Economic Zones Pvt. Ltd.
With the government granting the logistics industry an infrastructure status, both the domestic and foreign investments in Free Trade Warehousing Zones (FTWZ)s are expected to multiply, thus, boosting trade. In the backdrop of a rapid infrastructural development alongwith significant initiatives like Make in India and Smart Cities creation, Tier II & III cities will witness a promising potential for logistics and ancillary services, including FTWZs, in all probability.
FTWZs are a special category of Special Economic Zones, offering multifarious services including integrated solutions, such as packing management, re-invoicing, sorting, strapping and kitting, inspection, speedy delivery of cargo, onestop
for customs clearance capability, assembly of complete and semi-knocked down kits and taxation benefits. Typically, FTWZs provide employment opportunities to approximately 15,000 to 30,000 people. As per the existing policies, FTWZs come with a host...