: Centre launches secured logistics document exchange platform to improve ease of doing business #FinanceIndia #StockMarketNEWS Centre launches secured logistics document exchange platform to improve

@StockMarketNEWS Fri 30 Jul, 2021

Posted in: #FinanceIndia #StockMarketNEWS

Centre launches secured logistics document exchange platform to improve ease of doing business #FinanceIndia #StockMarketNEWS
Centre launches secured logistics document exchange platform to improve ease of doing business New Delhi, Jul 29 (KNN) Aiming to further improve ease of doing business, the government launched the "Secured Logistics Document Exchange" along with a Calculator for Green House Gas Emissions on Wednesday.

The Digital initiative is now set to improve logistics efficiency, reduce logistics cost, and promote multi-modality and sustainability in a big way. These digital initiatives have been launched to fill the gap areas where no action has yet been taken either by private players or any of the line ministries. The Launch Event was attended by more than 75 participants from the Central Ministries, Banks, IT companies, international organizations, the logistics sector stakeholders and industry bodies.

The Event emphasized the importance of digital transformation in the logistics sector to achieve the targets of improved India’s ranking in Logistics Performance Index; reduction in logistics cost and establishment of indigenous India-specific metrics for continual improvement in logistics.

The Logistics Division with the mandate of “Integrated Development of the Logistics Sector” has planned specific digital initiatives with a focus on integrating the various digital systems across ministries/ departments and filling gaps so identified.

In this context, key digital initiatives including the SLDE platform for digital exchange of logistics-related documents and a Calculator for GHG emissions for choosing the sustainable and right mode of transport for freight movement, have been developed.

The SLDE platform is a solution to replace the present manual process of generation, exchange and compliance of logistics documents with a digitized, secure and seamless document exchange system.

This will enable generation, storage and interchange of logistics-related documents digitally using Aadhaar and blockchain-based security protocols for data security and authentication; it will also provide a complete audit trail of document transfer, faster execution of the transaction, lower cost of shipping and overall carbon footprint, easy verification of the authenticity of documents, lowered risk of fraud, etc.

The proof of concept of the platform has been developed and executed with banks (ICICI, Axis Bank, State Bank of India and HDFC Bank) and stakeholders including freight forwarders, exporters, importers and vessel operators.

Along with the SLDE, the Centre also launched a Green House Gas Emission calculator as well. The GHG Calculator is an efficient, user-friendly tool and provides for calculating and comparing GHG emissions across different modes.