Logistics Data Bank Services extended
NICDC Logistics Data Services (NLDS), a joint venture between the Government of India, represented by the National Industrial Corridor Development and Implementation Trust, and NEC Corporation, a leader in the integration of IT and network technologies, on 17 May 2021 announced extension of its Logistics Data Bank (LDB) services at 9 major Special Economic Zones (SEZ) across India to improve last mile container visibility.
- Major SEZs include Visakhapatnam, SEEPZ Mumbai, Surat, MEPZ Chennai, Cochin, Kandla, Noida, Mangalore and Dahez SEZ.
- With container tracking services now live at these locations, exporters and importers will be able to get near real-time location information on container movement from ports to SEZs.
- The idea for NLDS' service extension was first proposed during NLDSL's Logistics Data Bank (LDB)'s Open House Session held in January last year.
- During the Session, stakeholders in the EXIM industry requested to install RFID readers at industrial zones, manufacturing hubs and SEZs, which would enable them to receive timely updates on last-mile cargo and improve supply chain efficiency.
- Subsequently, NLDS proposed to install RFID readers through various consultations and discussions with key stakeholders from industry and the Ministry of Commerce & Industry. NLDSL approached individual SEZs separately to conduct site surveys prior to the RFID system going live.
- A special economic zone (SEZ) is an area in a country that is subject to different economic regulations than other regions within the same country.
- The economic regulations of special economic zones (SEZs) tend to be conducive to—and attract—foreign direct investment (FDI).
- Special economic zones (SEZs) are typically created in order to facilitate rapid economic growth by leveraging tax incentives to attract foreign investment and spark technological advancement.