ULIP is the new UPI for Logistics in India, says Pushpank Kaushik, CEO of Jassper

ULIP is the new UPI for Logistics in India, says Pushpank Kaushik, CEO of Jassper

Sep 26, 2023

Mumbai (Maharashtra) [India], September 26: ULIP, the Unified Logistics Interface Platform, has ushered in a revolutionary transformation within India's logistics sector. With over 614 registrations, it has become the catalyst for innovation among logistics companies, whether they are in the private sector or government entities like railways, road transport, and sea logistics providers such as Jassper Shipping. 
What is ULIP?
ULIP opens doors for startups and private organisations to create versatile presentation layers that cater to a range of use cases, serving the needs of service, trade, and logistics providers, ultimately overcoming challenges and enhancing India’s logistics landscape. ULIP is driving the efficient utilisation of technology, seamlessly connecting IT systems to enable the smooth flow of logistics services, providing visibility, authorizations, and cargo certifications.
Why did Indian logistics need ULIP?
India faces one of the highest logistics costs relative to its GDP when compared to developed nations like the U.S. and Germany, where it accounts for only 8 to 9 per cent, in contrast to India's 14%. Here are the challenges plaguing the Indian logistics industry:
1. Lack of Transparency: Without an integrated platform, managing shipping orders and tracking goods in transit becomes unclear. Logistics companies suffer from limited visibility into cargo movement due to the absence of technology integration, ultimately affecting customer satisfaction and business management.
2. Government Regulations: Logistics companies encounter challenges with government regulations related to tariffs, export and import duties, and the documentation process. Frequent changes in regulations or inconsistent enforcement can create uncertainty for logistics providers and shippers, making it challenging to plan and execute logistics operations effectively.
3. Port Regulations for Sea Logistics: Regulations related to port operations, infrastructure, and management can impact the efficiency of cargo handling, vessel berthing, and overall port capacity. Delays and congestion at ports can increase costs and logistics challenges.
How ULIP is Transforming the Sea Logistics Industry?
The goals of NLP (National Logistics Policy) in India are to lower logistics costs, enhance the Logistics Performance Index ranking to be within the top 25 countries by 2030, and establish a data-driven decision support system for an efficient logistics ecosystem. Here are the transformative ways ULIP is aiding the Sea Logistics sector:
1. Automated Documentation: ULIP plays a pivotal role in automating previously manual procedures, which, in turn, improves the level of transparency in interactions between customers and shipping companies like Jassper Shipping. This automation leads to a decrease in paperwork, the removal of redundant tasks, and an overall enhancement in operational efficiency. ULIP specifically streamlines vital sea shipment functions such as order management, documentation, invoicing, and facilitates the customs clearance process for sea cargo.
2. Improved Transparency: ULIP allows customers to track their sea cargo shipments, access shipment documents, and interact with logistics service providers through a single interface. This transparency results in a superior customer experience that strengthens business relationships.
3. Real-Time Tracking: ULIP offers real-time monitoring of cargo movement while ensuring the confidentiality of data through end-to-end encryption.
4. Elevated Decision-Making: The sea logistics sector has seen a transformative shift as data-driven disruption powered by ULIP innovation and revolutionising the conventional decision-making paradigm. By synergizing state-of-the-art technologies like artificial intelligence, machine learning, and the Internet of Things alongside ULIP, sea logistics can bolster operational efficiency, curtail expenses, and elevate the overall customer journey.
Pushpank Kaushik, CEO of Jassper, added, "In the recent transformation of India's logistics landscape, Unified Logistics Interface Platform (ULIP) has emerged as the beacon of innovation, akin to UPI in the banking sector. National Logistics Policy with ULIP facilitates the government and private logistics sectors, aiming to boost economic growth and enhance India's logistics competitiveness through an integrated, efficient, sustainable, and cost-effective network. This vision relies on cutting-edge tech, streamlined processes, and a skilled workforce, leading to lower costs and improved maritime logistics performance."
The ULIP initiative is propelling India's sea logistics industry into a more efficient and growth-oriented era, involving both government and private players like Jassper Shipping. With the ongoing development and expansion of the National Logistics Policies, India can anticipate significant enhancements in the logistics ecosystem, which will ultimately benefit businesses, consumers, and the entire Indian economy. This is an exciting period for India's logistics sector as it enthusiastically embraces digital transformation and innovation.
(ADVERTORIAL DISCLAIMER: The above press release has been provided by PNN. ANI will not be responsible in any way for the content of the same)