The Jawaharlal Nehru Port Trust (JNPT) recently signed a memorandum of understanding (MoU) with CNB Logitech worth Rs 100 crore per annum for monitoring, tracking, and optimise the movement of as many as 50 lakh containers in foreign trade. According to Invest India, around 95 per cent of the country's merchandise trade is handled by the maritime transport. The Jawaharlal Nehru Port Trust situated in Maharashtra is the country's largest port and it handles 55 per cent of the country's cargo across all major ports.
The Rs 100 crore agreement signed between the two companies will facilitate the country's foreign trade policy through a more efficient movement of containers. Additionally, CNB Logitech is a firm that utilizes machine learning, artificial intelligence technologies, and network-based processes in order to automate the container terminals, as well as port operations.