• Posted on: 29 April 2016
  • By: admin

Formal Approvals

  1. Name of the Developer : Balaji Infra Projects Limited (BIPL)
    Location : Dighi Port, District Raigadh, Maharashtra
    State : Maharashtra
    Type : FTWZ
    Area : 100 Hectares

  2. Name of the Developer : Chiplun Infrastructure Private Limited (formerly M/s FTWZ Ltd.)
    Location : Mumbai, Maharashtra
    State : Maharashtra
    Type : FTWZ
    Area : 40 Hectares

  3. Name of the Developer : Arshhiya Technologies International Limited (AIL)
    Location : Village SAI, Taluka - Panvel, Maharashtra
    State : Maharashtra
    Type : FTWZ Hectares
    Area : 68 Hectares

  4. Name of the Developer : Vibrant IL&FS Consortium
    Location : Naigaon, Maharashtra
    State : Maharashtra
    Type : FTWZ
    Area : 46.94 Hectares

  5.  
  6. FTWZ Policy
    A new scheme to establish free trade and warehousing zone has been introduced vide Foreign Trade Policy, 2005, to create trade-related infrastructure to facilitate the import and export of goods and services with freedom to carry out trade transactions in free currency. This is aimed at making India into a global trading-hub.

    The scheme envisages creation of world-class infrastructure for warehousing of various products, state-of-the-art equipment, transportation and handing facilities, commercial office-space, water, power, communications and connectivity, with one-stop clearance of import and export formality, to support the integrated zones as ‘international trading hubs’. These zone would be established in areas proximate to seaports, airports or dry ports so as to offer easy access by rail and road. The free trade and warehousing zones (FTWZ) shall be a special category of Special Economic Zones with a focus on trading and warehousing.

    On the infrastructure front, in respect of private participation and foreign investment, India has bitter track record.

    Salient features of the scheme


  7. Proposals for setting up of FTWZs may be made by public sector undertakings or public limited companies or by joint ventures in technical collaboration with experienced infrastructure developers. The proposals shall be considered by the Board of Approval in the Department of Commerce. On approval, the developer will be issued a letter of permission for the development, operation and maintenance of such FTWZ.
  8. Foreign direct Investment permitted up to 100 % in the development and establishment of the zones and their infrastructure facilities.
  9. The proposal must entail a minimum outlay of Rs. 100 crores for the creation and development of the infrastructure facilities, with a minimum built up area of five lakh sq.mts.
  10. The developer shall be permitted to import duty free such building materials and equipment as may be required for the development and infrastructure of the zone. Such equipment and materials as are sourced from the DTA shall be considered as physical exports for the DTA suppliers.
  11. Once it has developed the FTWZ, the developer shall also be permitted to sale/lease/rent out warehouses/ workshops/office-space and other facilities in the FTWZ to traders/exporters.
  • The scheme allows duty free import of all goods (except prohibited items, arms and ammunitions, hazardous wastes and SCOMET items) for warehousing. Such goods shall be permitted to be re-sold/re-invoiced or re-exported. Re-export shall be permitted without any restrictions.
  • These goods shall also be permitted to be sold in the DTA on payment of customs duties as applicable on the data of such sale. Payment of duty will become due only when goods are sold/delivered to DTA and no interest will be charged as in the case of bonded warehouse.
  • The maximum period that goods shall be permitted to be warehoused within the FTWZ will be Two years.

 

Benefits for FTWZ Units:

  • 1) Income Tax exemption Under section 80 IA of the Income Tax Act.
  • 2) Exemption for Service Tax.
  • 3) Free foreign exchange currency transactions would be permitted.
  • 4) Other benefits as applicable to units in SEZs.