Arshiya gets approval for change in sector from Free Trade Warehousin Zone into Multi Sector SEZ

This will increase the suite of services in the Company to include manufacturing services.

Oct 21, 2021 04:10 IST India Infoline News Service

Arshiya Ltd has announced that the Company having its Free Trade Warehousing Zone (FTWZ) at Village Sai, Taluka - Panvel, Distrtct Raigad, Maharashtra has been declared as a “Multi Sector SEZ” at the 106th Meeting of the Board of Approval (BOA) for Special Economic Zones held on October 07, 2021.

In a regulatory filing, the company said that this will increase the suite of services in the Company to include manufacturing (e.g. manufacturing of mobile, telephone, other electronics devices and Defence sector for availing off-set benefits) services along with FTWZ services-already offered.

"Given the Governments push toward an Atmanirbhar India (PLI scheme) as well as a global push of multinationals to have a ‘China - Plus One’ strategy, the Company sees this as a strategic foray into offering manufacturing services to Global Marquee Clients in multiple sectors", it added.

Arshiya ended at Rs29.10 apiece down by Rs1.5 or 4.9% on Sensex.

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