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SUBMITTED BY: Surabhi Kaushal Dolly Samuel Batul Kudrati MBA(IB) II SEM
FTWZ Genesis
The Government of India had announced in the Foreign Trade Policy 2004-09 to set up Free Trade and Warehousing Zones (FTWZ) to create trade related infrastructure. The Free Trade and Warehousing Zones (FTWZ) is a special category of Special Economic Zone and is governed by the provisions of the SEZ Act and the Rules.
FTWZ OBJECTIVES
The objective is
to create trade-related infrastructure to facilitate the import and export of goods and services to provide freedom to carry out trade transactions in free currency.
FTWZ -Concept
FTWZ is a Sanitisedzone designated as Foreign Territory for carrying on business FTWZs are envisaged to be Integrated Zones to be used as International Trading Hubs Each Zone would provide World Class 'Infrastructure for : Warehousing for various kinds of products Handling and Transportation Equipment Commercial office space All related utilities telecom, power, water, etc One stop clearance of Import and Export of goods FTWZ would be a key Link in Logistic and Global Supply chains servicing both India and the Globe
ESTABLISHMENT OF FTWZ
Proposals for setting up of FTWZ can be made by: -public sector undertakings -public limited companies -by joint ventures
FTWZ -Utilities
Administrative building and office Ancillary building Canteen Services building Covered parking Roads Rain water and storm water drainage Effluents disposal system Telecom cables Power supply system
Container stacking area pavement In plant maintenance workshops Security huts General high mast lighting
FTWZ FUNCTIONING
Duty free imports of all goods for warehousing Re-export of goods Packing or re-packing without processing Labeling as per customer or marketing requirements. Maximum period 2 years
FTWZ -Benefits
Fiscal
Infrastructure
Administration
Other Benefits 1. Export oriented 2. FDI inflow 3. Employment potential. 4. Competitiveness of industries
Economic Zone