CII proposed a process to digitize trade financing

The Confederation of Indian Industry (CII) has proposed a 4-step process to digitize trade financing. To start with, there is a need to Digitize the Trade Process workflow, i.e all documents to be digitally uploaded into workflow, while exploring digital lockers as a way to share documents and simultaneously moving towards digital approvals and signatures.

Mr. Chandrajit Banerjee, Director General, CII said that digitising the trade process workflow can lead to a significant improvement in productivity by eliminating paper through advanced digital solutions such as ePresentation as well as digital approvals and signatures. It can also help facilitate real time visibility to global trade positions and transactions through image retrieval and customised reporting.

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