These are heady times for India’s logistics sector. as the country aspires to become a global powerhouse for manufacturing, government initiatives, unified tax reforms and increasing transparency give that extra edge to the sector. What’s more, free trade warehousing zones and logistics parks offer significant opportunities for collaboration and private sector investments.
The Indian logistics sector is undergoing a quiet revolution. Changing regulatory set-up, government incentives, infrastructure development projects, increasing transparency, relaxed tax structures to encourage participation of foreign and private players in the sector and dedicated logistics parks and Free Trade Warehousing Zones (FTWZ) are fostering the growth of the logistics market in India.
The fiscal budget for 2018 indicates a clear push for the logistics sector and an expected increase in investment of Rs 5.97 trillion in creating and upgrading its infrastructure. India now allows 100 percent FDI in the development and maintenance of warehousing and storage facilities. Under the Free Trade Warehousing Zone (FTWZ) Scheme, several designated zones in India are reserved for warehouse development. Panvel near Mumbai, Khurja near New Delhi, and Sri City near Chennai, are some of the designated FTWZs. The connectivity of these zones with major railways, roads, airways, and ports is well established. Incentives such as duty free import of building materials and equipment for these zones are attracting investors to this sector.
This story is from the July - August 2018 edition of Indian Transport & Logistics News.
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This story is from the July - August 2018 edition of Indian Transport & Logistics News.
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