One imperative of the Foreign Trade Policy is to enhance the efficiency of export operations. Warehousing companies can play a vital role in this aspect by providing state-of-the-art storage facilities and streamlined logistics solutions. With advanced technologies and well-organised systems in place, these companies can ensure that goods are stored and managed efficiently, reducing the time and costs associated with export operations. By offering secure and reliable warehousing services, they can help businesses meet international quality standards and delivery timelines, thereby bolstering the overall competitiveness of Indian products.
In line with the same, the government has identified towns of export excellence which produce goods of Rs 750 crore or more. According to the Foreign Trade Policy these include Faridabad, Moradabad, Mirzapur and Varanasi in addition to the existing 39 towns. Further to this, warehousing companies can support the government’s focus on promoting exports by strategically locating their facilities near major ports, airports, and transportation hubs. This proximity enables faster and more efficient movement of goods, reducing transit times and costs. By optimising their warehouse network and establishing a robust transportation infrastructure, these companies can enhance the competitiveness of Indian products in terms of speed, reliability, and cost-effectiveness.
The agenda of the Foreign Trade Policy to facilitate India’s economic growth and since warehousing acts as an enabler for businesses from MSMEs to startups to global conglomerates, industrial real estate players can partner with State Export Promotion Committees and District Export Promotion Committees to promote the export of identified products and services. By working closely with these committees, warehousing companies can align their operations with the government’s export promotion strategies. They can provide specialised warehousing solutions for specific industries, such as temperature-controlled storage for perishable goods or bonded warehouses for duty-free storage of goods meant for re-export. This collaboration helps streamline export processes and improves the overall export ecosystem.
Additionally, the rise of e-commerce has created a significant demand for efficient logistics and warehousing services. Warehousing companies can cater to this demand by providing 3PL (third-party logistics) services specifically tailored for e-commerce exports. With the increasing emphasis on quick and reliable delivery of goods in the e-commerce sector, warehousing companies can offer strategically located warehouses equipped with advanced technology and automation systems. These facilities enable faster order processing, inventory management, and last-mile delivery, contributing to the growth of e-commerce exports.
In conclusion, efficient warehousing and logistics operations are vital for the success of any foreign trade policy not just to reduce costs but to also act as a support pillar in trade facilitation by complying with customs regulations, ensuring proper documentation, and adhering to international quality standards. The value-added services provided by the warehousing players, such as customs clearance, labelling, packaging, and quality inspections, can help exporters meet the requirements of target markets. By facilitating smooth and compliant trade operations, warehousing companies contribute to the growth of exports and enhance India’s reputation as a reliable trading partner.The writer is Managing Director Indian at Panattoni.
