https://www.seatrade-maritime.com/ports-logistics/port-rotterdam-eyeing-india-investment-opportuniti14 Jun 2020 17:38
India is digitalizing its bills of lading and other trade documentation workflows as one of the last missing elements within the country’s electronic Port Community System (PCS). The PCS, offering the P-CaSo curated marketplace of specialized services, was built by Portall Infosystems, and they have integrated CargoX’s Platform for Blockchain Document Transfer (BDT).
The Indian Port Community System has seen rapid three-fold growth of users since 2018, when Portall successfully won the tender to modernize the PCS. The main goal was to improve India’s EODB rankings, reduce health risks, and avoid bottlenecks caused during the handling of a hitherto paper-intensive process for export-import (EXIM) cargo at their ports by digitalizing the processes.
The Indian Ports Association (IPA) and the trade bodies in the Federation of Indian Logistics Association (FILA) have emphasized the importance of digitalization in light of the current global pandemic. The Government of India accordingly started evaluating ways to implement electronic bills of lading, electronic delivery orders, certificates of origin, letters of credit, and other trade documentation across all EXIM transactions in the country.
The CargoX Platform for Blockchain Document Transfer (BDT) has been successfully tested by Portall Infosystems and India’s global shipping stakeholders to transfer electronic bills of lading. CargoX and Portall Infosystems have entered into a partnership to digitalize the processing of bills of lading and the transfer of trade documents. The CargoX Platform can be accessed by stakeholders through the P-CaSo services marketplace, integrated into PCS 1x.
The dozen major ports in India handle approximately 60% of the country’s total cargo traffic. In 2019-20 that was close to 705 million tonnes of cargo, and 20,837 vessels that were handled by these ports.
Portall has built the Indian Port Community System from the ground up within a record time of 6 months, with complete implementation in 13 major Indian ports – it is currently operational in 19 ports with 16,000+ corporate stakeholders. The B2B marketplace (P-CaSo) for the ecosystem is integrated into the Indian Port Community System to bring various niche services with curated service partners, including services such as blockchain document transfer (BDT).
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