IBM, India’s JM Baxi Group to develop technology to help export-import businesses

The trade and logistics service providers in India now have to deal with 21 government departments.

Indian logistics conglomerate JM Baxi Group has joined hands with US tech giant IBM to develop the technology for helping players in India’s export and import business.

The companies will jointly develop technology-based solutions for international traders in India with the help of IBM Blockchain technology, reported Business Line. Both the companies signed a MoU in Mumbai to collaborate on multiple projects.

The companies will jointly develop technology solutions to solve the problems faced by export-import traders in the country utilizing the domain knowledge and technology expertise of both. The partnership will help JM Baxi Group expand into newer areas of business.

A technology and innovation council will be set up as part of the agreement in the first stage by both the companies to generate innovative ideas to find suitable solutions to the pressing needs of the industry.

IBM’s Artificial Intelligence platform IBM Watson will be used for carrying out feasibility studies and developing solutions using blockchain technology.

“The MoU envisages a joint go-to-market on feasible technology solutions,” a spokesman for JM Baxi group told Business Line.

The trade and logistics service providers in India are experiencing several difficulties especially in coordinating with various agencies and parties like customs, shipping lines, container freight stations, inland container depots, port terminals, and stamp duty payments.

They have to deal with 21 government departments to complete the procedures and it causes delays in processing the shipments and facilitating payment on time. The collaboration seeks to find answers to these problems in coming years.

Headquartered in Mumbai, JM Baxi Group is a conglomerate of more than 20 companies providing services in the areas of shipping, logistics, infrastructure, and technology. It manages seven international cargo terminals across India.

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