30 Jul 2021 Government launches the “Secured Logistics Document Exchange” to boost Ease of Doing Business in the country

Government launches the “Secured Logistics Document Exchange” to boost Ease of Doing Business in the country

Context

• To improve ease of doing business, government launched the “Secured Logistics Document Exchange”.
• 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.

About:

Secured Logistics Document Exchange

• 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 transaction, lower cost of shipping and overall carbon footprint, easy verification of 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.

Benefits of Secured Logistics Document Exchange:

• Improved Efficiency: Initiatives will improve logistics efficiency, reduce logistics cost, and promote multi-modality and sustainability in a big way, also help fill the gap areas where no action has yet been taken either by private players or any of the line ministries.

Achieving Targets: It will help achieve the targets of improved India’s ranking in Logistics Performance Index (India ranked 44^th on the LPI in 2018.) reduction in logistics cost and establishment of indigenous India-specific metrics for continual improvement in logistics

Download Yojna IAS Daily Current Affairs of 30th July 2021

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Yojna IAS Current Affairs Team