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Future Supply Chain to set up 9 GST-compliant logistics parks
GST is likely to eliminate the need for companies to have a warehouse in each state.
Updated : Mar 30, 2018, 03:30 AM IST
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Future Supply Chain Solutions, the logistics and supply chain vertical of the ` 9,000-crore Future group, plans to have nine logistics parks operational by the end of 2011 even as the goods and service tax (GST) regime kicks in.
GST is likely to eliminate the need for companies to have a warehouse in each state. Warehouses, thus, can be positioned strategically, based on production and consumption dynamics.
Anshuman Singh, managing director and CEO, Future Supply Chain Solutions, said logistics parks will come up in eight major cities keeping in mind the GST regulations.
“We have figured out the likely main sources of consumption and production. Accordingly, we have identified the cities and calculated what would be the exact space required for the warehousing facility in each city,” he said.
The eight locations are Mumbai, Chennai, Hyderabad, Ahmedabad, Pune, Delhi, Kolkata and Bangalore. The total space being developed is around 3 million square feet. The company currently has warehousing space of around 4 million square feet.
Future Supply Chain is also developing a state-of-the-art warehouse facility at the Multi Modal International Hub Airport in Nagpur (Mihan) SEZ, which will be its ninth.
The facility is expected to add around half a million square feet of warehousing space.
The company plans to expand it total warehousing space to more than 10 million square feet in two-three years.
Future Supply Chain has entered into long-term strategic alliances with various land developers for the land and for developing logistic facilities at these eight locations.
Singh believes starting early in setting up GST-compliant warehouses will be a big advantage for the company.
“The GST policy seems to be postponed and is unlikely to come in from April 2011 itself. Our warehousing facilities would start coming up by then. Shifting warehousing activities of a supply chain in accordance to a new policy is not an easy task. If the new GST policy is to come in 2012, starting with such facilities by 2011 is a must,” said Singh.
The company is very bullish on the logistics segment and plans to invest around `100 crore each year in developing infrastructure for these logistics parks and express transportation space for the next four years.
