New FedEx import tool to enhance efficiency of import process for India businesses
FedEx Express (FedEx), a subsidiary of FedEx Corp. and one of the world’s largest express transportation companies, has launched the FedEx Import Tool (FiT), a cutting-edge solution designed to address the increasing complexities and volumes of imports in India. This timely launch is noteworthy as India has experienced a significant 12.2 per cent increase in merchandise imports, reaching USD 60.11 billion in February 2024 from USD 54.4 billion in January of the previous year, as per a release.
There is a need for smarter, more efficient solutions to manage the complexities of the import sector. FiT, with its integration of advanced technology and user-focused design, is set to transform the import process, enhancing efficiency, compliance, and the overall end-to-end shipment journey. Developed in India, FiT stands as a testament to the local innovation aimed at addressing global challenges. It will be released in other FedEx markets globally in a phased manner. Key features of this comprehensive, single-window platform include:
* A unified self-service platform to streamline the shipping process by centralising document management and shipment tracking.
* A dashboard for greater visibility into every stage of the import shipments.
* Proactive notifications to expedite the clearance process and minimise delays.
* A secure portal for the easy upload of KYC and Customs clearance related documents, ensuring compliance and efficiency.
* A direct payment feature for paying Customs duties and taxes online.
* Round-the-clock monitoring allows shippers and importers to track their shipments up to 90 days after pick-up.