India's intermodal logistics service provider and rail-linked Inland Container Depots (ICD) operator, GatewayRail is the first rail operator in the country to join the blockchain logistics platform, TradeLens.
The association between GatewayRail and TradeLens, which was developed by AP Moller Maersk and IBM, is a major step in digitising India’s vast inland container logistics ecosystem, according to a statement.
TradeLens brings together data from the entire global supply chain ecosystem and this data allows the digital platform and its network partners to modernise manual and paper-based documents by replacing them with blockchain-enabled digital solutions.
It also allows the network partners to provide their customers with deeper visibility into the entire journey for their cargo from origin to destination.
GatewayRail currently operates a fleet of 31 rakes connecting western Gateway ports such as Nhava Sheva, Pipavav and Mundra to its ICDs at Garhi Harsaru in Gurugram, Piyala in Faridabad, Sahnewal in Ludhiana and at Viramgam in Ahmedabad region, where the TradeLens solutions will be deployed in the first phase.
Customers moving import and export containers on these services will be able to make full use of the solutions provided on the TradeLens platform such as the TradeLens eBL, an electronic Bill of Lading using blockchain technology and integrated with trade finance companies and the Core product that offers true end-to-end visibility in addition to digital documentation.
"Joining the TradeLens platform allows us to lead the change in the Indian intermodal logistics ecosystem," highlighted Sachin Bhanushali, CEO and Director Gateway Rail Freight Ltd.
He went on to comment, "It is the right time to change over from the manual, paper-based documentation and move towards a digital solution that drives value for all the stakeholders in the journey of import and export cargo."
Bimal Kanal, Head of TradeLens, South Asia, noted, "There is no doubt that digitising supply chains will ultimately help in bringing down the total cost of logistics, which is an important cornerstone of the National Logistics Policy."
Bimal added, "Joining the TradeLens platform will assist GatewayRail to meet the ambition of the foundation carriers, including Maersk, MSC, CMA-CGM, Hapag Lloyd and ONE, to bring secure data sharing for driving high levels of efficiency."
