According to a study done by the Digital Container Shipping Association (DCSA), an estimated savings of 50% can be achieved by adopting E-Bills of Lading, which will result in a $4 Billion saving annually across the globe.

The FIATA Bill of Lading (eFBL) in India is a Multimodal Transport Bill of Lading which is a trustworthy and reputable trade document that includes the necessity for the document issuer to be a valid FIATA/National Association member and to have valid liability insurance. A study highlights the key benefits of the eFBL which includes: Saving time and money, optimization of the processes, improving trust and security among stakeholders, and achieving sustainability goals. thereby helping to save paper and unnecessary wastage in effort and time.

To explore eFBL possibilities, The Federation of Freight Forwarders Associations in India (FFFAI) in its 24^th Biennial Convention, held from August 12-14 in Chennai, introduced the FIATA Bill of Lading (eFBL) in India. The bill was launched by the Guest of Honor, Hon’ble Minister of Ports, Shipping & Waterways, and Minister of AYUSH, Sarbananda Sonowal, who inaugurated the Convention and attended Business Sessions on August 13, 2022.

Those present at the 3-Day Convention were Amrit Lal Meena, Special Secretary (Logistics), Ministry of Commerce, Government of India; Shankar Shinde, Chairman, FFFAI, Shashi Kiran Shetty, CMD, Allcargo Logistics and Chairman NITIE,  AV Vijayakumar, Immediate Past Chairman, FFFAI, Dushyant Mulani, Chairman-Elect, FFFAI, PK Agrawal, Chief Commissioner of Customs, Mumbai Zone – I, Niraj Ambani, Group President-Supply Chain, Reliance Industries Ltd, Dr. Kunio Mikuriya, Secretary General of the World Customs Organization (WCO); Dr. Ivan Petrov, President, FIATA and Dushyant Mulani, Chairman-Elect, FFFAI, along with eminent dignitaries and more than 600 delegates from across India and overseas.

STRESS ON IT-DRIVEN FUTURE

Sonowal stressed on the growing importance of an IT-driven logistics industry for faster movement of cargo from manufacturers to consumers across the globe. FFFAI’s initiatives like eFBL would enable Indian products to reach out to global markets with reduced transaction times and costs, giving them a competitive edge in international markets.

Amrit Lal Meena highlighted the crucial role being played by the Customs Brokers, Freight Forwarders, and logistics service providers to streamline the manufacturing and Exim trade in the country. He also brought light on some infra projects in the pipeline related to multi-modal logistics infrastructure and connectivity in line with the PM Gati Shakti announcements and in association with various ministries.

Introducing the eFBL, FFFAI Chairman Shankar Shinde stated that FFFAI, is one of the members of the International Federation of Freight Forwarders Associations (FIATA), has signed an MoU with FIATA to implement the same in India to benefit Indian Customs Brokers/Freight Forwarders and significantly improve Ease of Doing Business in view of the rapid change in the entire logistics/supply chain industry owing to digitalization. He threw light on the ongoing Industrial Revolution 4.0, quoting the equation set by Prime Minister Narendra Modi, which is, IT+IT=IT (India’s Talent +Information Technology = India Tomorrow), and stated that the way ahead for logistics professionals is to seize the opportunity for their survival and growth by adopting smart technologies for a way forward.

Shinde also highlighted ‘The PM Gati Shakti Master Plan’ which is a landmark decision to develop the multimodal logistics infrastructure and connectivity in the country. He also emphasized on the present government to achieve the country’s target of a USD 5 million economy by 2015, in which the contribution of the logistics industry would be the key factor.

Elaborating on the spirit of the convention theme: ‘Logistics – Reshape, Embrace and Surge in the Digital Era’, AV Vijayakumar urged for adopting the changes in the logistics landscape because of the huge intervention of technology/IT and digitization.

Shashi Kiran Shetty said, “We are witnessing disruptions regarding cargo movement still continuing in many areas like USA, and Europe. All have been possible with the collaborative efforts from Government and industry supported by port, airport, road, ICDs and CFS infrastructure.”

Niraj Ambani deliberated on the shipper’s perspective and changing requirements of the customers (users of logistics services) and how the National Logistics Policy will be the much-desired announcement in this regard to shape the industry to world standard.

Dr. Kunio Mikuriya and Dr. Ivan Petrov commended the role of FFFAI in facilitating international trade by collaborating with the Government of India and the Customs Broking/Freight Forwarding Community across the globe.

Marex Media