Electronics export to India may include smartphones and other electronics goods such as electric inverters, computers, laptops, battery chargers, transformers, speakers, microprocessors, base stations, TVs, scanners, printers, etc. If you are a manufacturer, distributor, supplier, trader, or merchant involved in electronics export or import to India, then you should have an understanding of free trade warehousing zones.
Also called foreign trade zones, the free trade zones (FTZs) provide businesses with an opportunity to move products from one country to another without having to worry about the local laws about the import-export, the customs duties, taxes, and other fees that are otherwise associated when importing or exporting goods. Some of the greatest benefits of using free trade zones include:
- Duty & Tax Deferments
- Tenure of Storing goods till 5 years
- Weekly savings on entry
- Exemption of duty on re-exports
- Improved quality control, inventory tracking, and compliance
For taking advantage of foreign trade zone, businesses must be able to trace production and manufacturing orders, keep a record of their inventory, determine whether the material is sourced internationally or domestically, and categorize goods for deferral of customs duties. You can save a lot of money by minimizing merchandise processing fees thus having more working capital for your business to expand.
Whether you are an individual, small business, or a large manufacturer, electronics exporter, or importer of any size, you may benefit from the foreign trade warehousing zones. However, a lot of companies don’t even know the amazing cost and compliance benefits they can enjoy by using the free trade zones for storing and managing their imported and/or exported goods.
Using the free trade zones for electronics export to India can help you significantly reduce costs, deferral of customs duties, minimize regulations of bureaucracy, and improve market competitiveness. There are many secure, safe, and world-class free trade zones, such as OSV’s FTZs, that can be used for importing/exporting electronics goods and other commodities in/from India. Contact them now to explore more…