India develops digital supply chain portal

Tuesday 28 August 2018 13:48 CET | News

India\s Ministry of Finance and Corporate Affairs officials have announced that the country will launch a national logistics and digital trade platform.

The National Logistics Portal (NLP) will secure all transport and logistics vendors onto one platform, enabling easier price comparison for clients and companies. As a result, the transport of goods around India, as well as the export process, is said to be more efficient and bring down overall costs.

According to Business Insider, logistics costs currently account for as much as 14% of the nation’s gross domestic product (GDP). The government hopes that the platform will bring that figure down to 10% within a few years. To achieve that, NLP will be used as a “one-stop shop” for traders and manufacturers. However, the platform will also enable them to obtain certification from 81 government entities, including the Ministry of Railways, Sea and Airport Terminal Authority, Ministry of Roads and Highways, and Customs department.

NLP’s development will include a single-window certification device to approve transactions, as well as the integration of an online payment service. In addition, there will be a mobile application so buyers can track their goods in real time.

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Keywords: India, supply chain finance, supply chain portal, Ministry of Finance and Corporate Affairs, logistics, trade finance, manufacturers, single-window certification device, transaction
Countries: World