Arshiya's Mumbai FTWZ Receives Notification
Marks first of the FTWZs to be operational in India
-- 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 & 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 & 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 & Dubai as a trans-shipment destination. India always had the potential of being not just the consumption, but sourcing, value addition & 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.”
Notes to Editor
About Arshiya International Ltd
Arshiya International Ltd. is a leading global Supply Chain and Logistics Infrastructure Solutions Company listed on the Bombay Stock Exchange providing a fully integrated value chain of services enabling unparalleled operational expertise and dynamic customer solutions across the entire supply chain. Key business entities of Arshiya International Ltd. include: Arshiya logistics (providing global shipping services), Arshiya Supply Chain Management (for unique supply chain and demand chain solutions), Arshiya Logistics Infrastructure (which focuses on development of Free Trade Warehousing Zones {FTWZ} Logistics Parks in strategic locations across India), Arshiya Rail Infrastructure (which will deploy 75 cargo-trains and rail terminal infrastructure across India) Arshiya Distriparks (that will develop and operate state-of-the-art regional distribution hubs for domestic as well as EXIM cargo in strategic locations across India towards product consolidation for in-land India movement) and Arshiya Technology (providing customized I.T. Systems including software development & BPO services complimenting its other services). Uniquely positioned to influence the lowering of end-product costs through bringing much needed efficiencies in logistics and supply chain costs in India; Arshiya is rapidly expanding its operations within India and linking its infrastructure & supply chain solutions to a global network spanning over 140 countries.