Digitizing Trade in India: CargoX to digitize India’s major cargo Documentation
The COVID-19 pandemic has put the governments of different nationalities into a difficult situation. Somewhere between, the Indian industry of cargo shipping has seen a big loophole in their workflow.
The ministry of India has suggested implementing the CargoX platform to utilize its workflow from minimum to maximum. CargoX is a blockchain platform that provides EBL solutions. As per the reports, the compliance of the CargoX with the initiative to digitalize the documentations was proven to be successful. In a recent event, PCS (Indian port community center) has successfully integrated itself with the BDT of CargoX.
Major ports in India successfully integrated with CargoX
Back in months, the shipping ministry of the Indian government sought intervention from the commerce ministry for the recognition of electronic trading documents instead of manual documents. In this meantime, CargoX was appointed to digitate all the trading documents of the shipping industry.
The aim was to target all the major and minor ports of the cargo traffic. In a recent statement by cargo, they tested the CargoX for compliance. The major theme was to look for the compliance of the various scenarios from import-export to all other breakbulk for this digital initiative. About 19 of the major and minor ports have been successfully integrated with the PCS. About 60% of the daily hurdle is managed by the minor ports so this will surely save both time and cost. The PCS will help the workers to manage all bills, shipping docs of every kind electronically by all means.
Blockchain platforms: Largest Port operators partner with TradeLens
The COVID-19 phobia has intervened many of the companies to manage their workflow due to the social distancing practices around the world as their traditional systems are failed to deliver their utmost work.
As a result, many of the shipping operators have integrated themselves with blockchain platforms to ensure smooth operation in both cargo and billing side. Many of the renowned operators i.e. Special Economic Zone Limited, DP World, and Adani Ports partnered with TradeLens digitalize its supply chain process.