GMR International Free Trade Zone (GIFTZ)
The Park includes land area of 20 acres ear-marked as Free Trade Zone to complement supply chain distribution, warehousing, storage, value addition and packaging. This is the only airport-based FTZ in India. The fact that the FTZ is inside the airport makes it unique which will bring down the transportation costs and reduce the turnaround time for movement of man and material.
Units within FTZ are allowed to export, import and re-export products without the burden of taxes, duties and levies as per the regulations that a business would otherwise pay in any other DTA land. FTZ allows businesses to locate stock in close proximity to their Indian customers reducing buffer stocks and improving turnaround time. This increases forward and reverse supply-chain efficiencies.
Further, FTZ units are permitted to trade goods, assembly of complete knocked down and semi knocked kits, packaging or repackaging, re-sell, re-invoice or re-export of imported goods.
- Hassle-free business environment in terms of local laws & regulatory compliance.
- Goods can be stored up to 2 years by deferring payment of duties thus freeing up working capital. There is no interest levied on deferred duty.
- No Import/Export duties to be paid in case the goods are imported from one country and re-exported to another with or without value addition.
- 24/7 Customs clearance enhancing speed and efficiency of distribution of spares, parts which is very critical in aircraft repairs and maintenance
- Value added activities like labeling, assembly of complete knocked down and semi knocked kits, packaging or repackaging, re-sell, re-invoice or re-export of imported goods, setting up of office in the premises etc. are permitted with little/no interference from customs personnel.
OPPORTUNITIES AT GIFTZ
The FTZ facilitates logistics companies to build their warehouse to keep their commodities for both short and long term without impact of import duty.
The FTZ allows companies to leverage its state-of-the-art infrastructure warehouses, both for Indian and International distribution. It provides an opportunity for effective re-export of commodities with facilities of sorting, grading, kitting and repackaging among others. It also imparts an opportunity to undertake value-added activities like reverse logistics apart from general cargo handling.
FTZ at the GMR Hyderabad Airport City entails re-export, re-sale and re-invoice of goods without any restriction. The goods can also be traded in Domestic Tariff Area (DTA) by payment of customs duties as applicable at the time of sale.
Packing and re-packing without processing and labeling as per customer or marketing requirements are also being undertaken at FTZ.
Assembly of complete knock-down and semi knock-down kits are also being permitted at the FTZ
Primary benefits of exclusive airport based GIFTZ at GHIAL
- Freighter Airlines Network connecting GHIAL to all parts of the world
- Highly secured and safe zone for business operations as it lies within the airport premises
- Close proximity to world class Cargo terminal infrastructure & services for logistics facilitation
- 24/7 Customs Operations for seamless clearances
- GMR as developer of the Park can also construct customized warehouses to meet clients specifications and requirements