India's Largest Private Port Operator Partners With Blockchain Platform TradeLens

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India's largest port operator APSEZ has partnered with IBM's TradeLens platform to digitize its supply chain process.

Listen to article The largest multi-port operator of India, Adani Ports and Special Economic Zone Limited, has partnered with the blockchain-based supply chain solution platform TradeLens.

APSEZ plans to integrate TradeLens's blockchain solutions across 10 of its major courier management facilities across ports in six Indian states - four in Gujarat and one each in Odisha, Tamil Nadu, Goa, Chennai, Andhra Pradesh and Kerala.

Digitizing to curb supply chain shortcomings exposed by the pandemic.

According to the local business news outlet, Business Line, APSEZ's move to digitize its supply chains comes as an effort to reduce the impact of vulnerabilities of the traditional current supply chain system.

The ongoing Covid-19 pandemic exposed the drawbacks of the present supply chain that heavily relies on paperwork and manual processes.

A study by QBIS Consulting on Total Transport and Logistics Costs estimated that digitizing supply chain workflow can save importers of a single major port up to $220 million annually.

TradeLens has made consistent progress in partnering with major industry players in an effort to digitize their supply chains.

The following month, Oman's largest port, Port of Salalah also partnered with the company to digitize its supply chain.

Cointelegraph reported in March that Standard Chartered became the first bank to join the TradeLens platform.

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