ARSHIYA’S MUMBAI FTWZ RECEIVES NOTIFICATIONMay 11th, 2009 - 8:57 pm ICT by Sampurn Wire
Marks first of the FTWZs to be operational in India
Mumbai, May 11th, 2009 – Arshiya International Ltd. a global Supply Chain and Logistics Infrastructure Solutions Company announced that it has received formal notification by the Ministry of Commerce and Industries where it’s Free Trade Warehousing Zone at Panvel near Mumbai has been gazetted as deemed foreign territory.
This formal notification by the Commerce Ministry marks the country’s first ever FTWZ being developed and operated by Arshiya International Ltd in Sai village (Taluka – Panvel, District – Raigad), Maharashtra. This site is very strategically located near both JNPT (Jawaharlal Nehru Port) as well as the proposed new International airport in Navi Mumbai; while being connected to the major artery road connectors and a rail terminal for Pan-India connectivity.
Arshiya’s proposed FTWZs which is a deemed foreign territory will serve as integrated mega-logistics (consolidation and value addition) hubs with dedicated CFS (Container Freight Stations). Arshiya International Ltd. would be the only logistics company in the country providing this facility along with other supply chain management functions including integrated warehouse management, Rail, IT and Regulatory consultancy services. Companies availing the facilities in the FTWZ will get benefits such as Duty/Tax Incentives, Faster Regulatory Clearances, Reduced Capital Expenses and Flexibility of operations.
Commenting on this development, Mr. Ajay S Mittal, Chairman and Managing Director, Arshiya International said, “Infrastructure like the FTWZ is not just a huge cost benefit for companies operating in India but also for India that can now compete with Singapore and Dubai as a trans-shipment destination. India always had the potential of being not just the consumption, but sourcing, value addition and distribution hub of the world. We are very excited to be the company pioneering in this initiative which is the first step in that direction”
He further added that “This FTWZ in Mumbai will be the first of the 5 planned FTWZ Arshiya will develop in India and will be operational by the beginning of 2010.” -Sampurn Media
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