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More about FTWZs
- FTWZs are deemed foreign territory within India and Sri Lanka .
- FTWZs have state of the art infrastructure for warehousing including refrigerated storage, container freight stations, rail and road connectivity, offices, banks and insurance corporations.
- Companies can store their goods in their own name for 2 years or more without payment of customs duty. Generally, all goods can be stored, except for those that are specifically restricted.
- Companies do not need to establish a local presence to use the FTWZ.
- In addition to storage, other permissible activities in the FTWZ include trading, breaking bulk, Packaging and repackaging, labeling, kitting, re-selling, re-invoicing, re-export of goods, repairs and maintenance, assembly of complete and semi-knockdown kits
- Payment for storage and services has to be made in foreign currency.
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