Project

A. General Information

1. Title

India – Republic of Korea: Electronic Bill of Lading

2. Status of the project
Operating
3. Implementation period of the project/service:
From
2024
To
present
4. Website
https://economictimes.indiatimes.com/news/economy/foreign-trade/india-s-korea-s…
5. Geographical coverage
Bilateral
Participating countries: India, Republic of Korea
6. Participating agencies/entities of the project/service:
a. Development stage
Lead agencies/entities
--
Other participating agencies/entities
--
b. Operational stage
Lead agencies/entities (op)
Republic of Korea Customs Service
India Central Board Of Indirect Taxes & Customs
Other participating agencies/entities (op)
--
7. Main stakeholders/beneficiaries of the project
Traders (big enterprises)
Traders (SMEs)
Customs
8. Business process category of the project
Transport
Regulatory/official control

B. Lessons Learned

9. Summary description of the project/service
Brief Summary
In a significant move towards streamlining international trade processes, India and Republic of Korea have initiated the electronic exchange of bills of lading between their respective customs authorities.
a. Objective(s)

The bill of lading, a crucial document in international trade that serves as a receipt, contract, and proof of ownership for shipped goods, has traditionally been handled in physical form. The transition to electronic transfer aligns with the broader initiative led by the United Nations Commission on International Trade Law (UNCITRAL) to digitise trade documentation globally.

b. Business need for the project (background)

India and Republic of Korea, who implemented a comprehensive free trade agreement in 2010, continue to be significant trading partners. In the fiscal year 2023-2024, India's exports to Republic of Korea amounted to $6.41 billion, while imports reached $21.13 billion.

c. Business process covered*
--
d. Overall architecture and functionalities*

Each container entering our country is equipped with RFID tags, allowing for real-time tracking of its movement. Moving forward, the integration of the Internet of Things to ensure end-to-end tracking of container movements from origin to shipment and beyond our shores remains a work in progress.

e. Relevant document/figure
--
10. Documents and data exchanged via the project

Electronic Bill of Lading

11. Data models/databases, proprietary solutions, hybrid approaches
--
12. Main challenges faced during the project
--
13. Lessons learned from the project
--
14. Main benefit(s) of the project
Simplified process
Increased trade flow
14A. Elaborations/detailed description on benefits gained
--
15. Technical/financial/capacity building/other assistance
--
16. Future plan for expansion of the project
--
17. Other information or relevant references on the project
--
18. Relevant document regarding the project
--

C. Relevant Standards

19. Name(s) of any international, national legal instrument underpinning the project
--
20. Electronic message standard
20A. Electronic message standard supporting the project
--
20B. Type of standard for electronic message applied for the project
--
21. Technical communication standard
21A. Technical communication standard supporting the project
--
21B. Type of technical communication standard applied for the project
--
22. Security-related standards*
22A. Security-related standard supporting the project
--
22B. Type of security-related standard applied for the project
--
23. Other Technical Information
23A. Interface developed for data exchange with an internal system
--
23B. Other technical implementation information
--