Blockchain solutions help to enhance the quality of basic services essential for trade. Blockchain solutions depend on a digital, decentralized, and distributed ledger model. The design is more safe, reliable, and powerful than the current models used in trade. This article focuses on the recent introduction of the APEDA Blockchain solution to aid EU importers.
What is APEDA?
APEDA is the abbreviation for the Agricultural & Processed Food Products Export Development Authority. The Government of India established APEDA under the APEDA Act passed by India’s Parliament in 1985. The Apex body works towards promoting the export of processed food products and agricultural commodities. It is mandatory to obtain an APEDA Registration for exporting scheduled agricultural and processed food commodities.
The APEDA Blockchain solution
APEDA has recently included a Blockchain solution into its GrapeNet traceability platform. The solution aims to build trustworthiness and help EU (European Union) importers track all pertinent details of India’s grape exports.
The web-based Blockchain solution, also known as the APEDA Trust Chain, will help EU importers track all assignment details. It will record all processes that international customers at the end of the chain can track to validate the grapes’ quality and authenticity.
India’s fresh grapes export figures stood at over 1.93 lakh tonnes in 2019-20 and were worth Rs. 2,177 crores. Grape cultivation in India, yielding approximately 3.4 million metric tonnes annually, covers around 1,40,000 hectares. The major grape-producing states include Telangana, Karnataka, and Maharashtra.
The Netherlands, the largest trade hub for fresh fruits in the EU, is the leading importer of Indian grapes. It is followed by Russia, the UK, Bangladesh, UAE, and Saudi Arabia. The introduction of APEDA’s Blockchain solution will help add credibility to India’s grape exports.
Also, the Blockchain technology will facilitate the merger of India’s supply chain statistics with global supply chain data. All Blockchain initiatives are likely to be merged soon to ensure hassle-free data sharing relating to the movement of fresh produce.
Blockchain technology is one for the future. It enables real-time and transparent information sharing of data stored in a digital ledger. The technology is progressively finding its application in finance, banking, logistics, and international trade because of the several benefits it offers.
Moreover, you require any kind of guidance related to the APEDA Registration, please feel free to contact our business advisors at 8881-069-069.
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