New FedEx import tool to enhance efficiency of import process for India businesses
FedEx Express (FedEx), a subsidiary of FedEx Corp. (NYSE: FDX), an express transportation companies, has launched the FedEx Import Tool (FiT), a 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 percent increase in merchandise imports, reaching $60.11 billion in February 2024 from $54.4 billion in January of the previous year.
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 centralizing 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 minimize 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
