The customs house agency industry is as old as the trade itself. There are about 21 government departments involved in the export/import chain, so it takes about 8–10 days to complete the relevant documentation – 7 for exports and 10 for imports – in India. Thus, importers and exporters have long appointed licensed third-party agents to clear their cargo through customs and coordinate with the customs department. That’s how CHAs came into being.
India's GDP (2018E) is US$ 2.84 trillion, growing at an annual growth rate of 7.7 per cent. Total tax revenue as a percentage of GDP is 17.7 per cent. Customs contributes 15.1 per cent to this tax revenue. Thus, 2.55 per cent of India’s GDP comes from customs alone, which amounts to US$ 71 billion or Rs 4.82 lac crore with an exchange rate of Rs 68 to the dollar.
This is one of the most critical activities and one of the most crucial links in the supply chain. There are about 15,000 CHAs in our country. Mumbai alone has around 3,000 and the market size is of about Rs 20,000 crores across India. Unfortunately, the CHA industry has not evolved with technology and the need for a digital superhero had become imperative.
Everybody needs a transformation at some point and we all must adapt and evolve with technology. Portall, with its deep domain expertise in technology and in the shipping industry, is transforming the customs clearance model.
All transactions in Portall are encrypted. It uses a patented algorithm and access is through a secure and encrypted tunnel. This technology is used to display ondemand data and content without storing it.
Through Portall, users can cut costs by 30 to 50 per cent by reducing their efforts in creating documentation and checklists, reducing the physical interaction with various customs departments, and reducing overall transaction times and costs. Thus, they can increase efficiency, handle a bigger trade volume and acquire more customers. Portall is the place to go for customs clearance. Businesses can experience the satisfaction of using Portall and clear their cargo with minimal effort by simply registering on www.portall.in.
Through this digital initiative, we are not only empowering our stakeholders to trade efficiently and transparently, but also contributing towards improving India's ease of doing business quotient on a global scale.
The need of the hour for logistics, maritime and shipping companies and all their stakeholders is to participate in this digitalisation initiative powered by Portall. Become a part of this single online platform and help in creating a robust cargo community system.