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CII-GCEL MOU Ensures Indias Leadership in HUMAWEALTH ASIA Trade Lane

Submitted by: Saravanan

2010-12-31 00:07:56 digg facebook Email twitter print

The MOU signing between CII and GCEL, witnessed by the Honourable Minister of Shipping, Govt. of India, confirms India's leadership role in GCEL's HumaWealth Program. The signing signals the start of the Asia Benchmark Trade Lane, one of four major trade lanes around the world that will launch the Program globally. The Program will provide the tools and the road map to increase Asian trade by USD 288 billion a year and creating up to 22.1 million manufacturing and service jobs across the region.

New Delhi, India (OPENPRESS) December 31, 2010 -- The Confederation of Indian Industry (CII) Institute of Logistics and the Global Coalition for Efficient Logistics (GCEL) signed a landmark Memorandum of Understanding (MOU) today ensuring India's leadership in GCEL's HumaWealth Program.

The MOU was signed by Mr. B. Sridhar, Vice Chairman CII Institute of Logistics and Capt. Samuel Salloum, GCEL Co-Chairman and witnessed by Mr. G.K. Vasan, the Honorable Minister of Shipping, Government of India. This global program provides the tools and road map to deploy a digital platform for trade and commerce around the world. This new platform will sharply lower the cost of trade and allow businesses to connect with global markets with unprecedented ease—at no cost to them. Indian businesses, especially the nation's huge ranks of SMEs, will be able to slash their costs, link to markets at home and abroad, and become more bankable in the process.

After the signing, Captain Samuel Salloum noted, "The HumaWealth Program puts the focus on digital Soft Infrastructure, thus connecting India with the rest of the globe in a 21st century way. The revolutionary Soft Infrastructure will not only integrate India's many small and medium-sized enterprises (SMEs) into the global marketplace, it will also highlight where India can make new investments in hard infrastructure and find the highest returns."

Driven by the power of innovation, GCEL's HumaWealth Program provides a tangible catalyst to re-balance global trade and re-energize the global economy. The program will provide the tools and the road map to recover existing lost trade opportunities, increasing Asian trade by USD 288 billion a year and creating up to 14.7 million manufacturing and another 7.4 million service jobs across the region. Mr. Sridhar stated, "The Institute of Logistics established by the Confederation of Indian industry will work closely with GCEL in creating awareness on the concept and ensure that the benefits are reached across the verticals".

The MOU signing follows a highly successful event in Mumbai in July 2010 in which CII and GCEL collectively invited India's leading finance, insurance, and technology firms to become part of this global initiative and seize a new $6 trillion 2020 market opportunity. At the event, CII announced that GCEL's HumaWealth Program will be an important catalyst in connecting India with growing markets around the world, making its millions of SMEs more profitable and more competitive, thereby fueling new economic growth.

The India signing signals the start of the Asia Benchmark Trade Lane, one of four major trade lanes around the world that will launch the HumaWealth Program. GCEL previously signed an MOU with the Indonesian Chamber of Commerce and Industry (KADIN) for Indonesia's participation in the Asia Benchmark Trade Lane. Today's signing paves the way for Asia to be the first global deployment of GCEL's Soft Infrastructure.

Having successfully completed its Asia campaign, and as part of GCEL's commitment to equal opportunity, plans are now being finalized for similar deployment lanes in the Middle East and Africa, Europe and the Americas. According to Dr. Mark Drabenstott, GCEL's Secretary General, "GCEL is now in strategic discussions with the League of Arab States and African Union, Union for the Mediterranean and the Organization of American States".

Harnessing 21st century technology and the collective engagement of public and private organizations around the world, GCEL's program will usher in the biggest innovation to the global trade system since the advent of containerization more than a half century ago.

About GCEL
The Global Coalition for Efficient Logistics (GCEL) is a Swiss-based nonprofit public/private partnership that brings together governments, the private sector, and NGOs to deliver a tangible program achieving sustainable global economic growth. GCEL's public sector members and supporters include governments from the Americas, Asia, Europe and Middle East/Africa and also private sector members including finance, technology and insurance firms with a manpower of 2.7 million operating in 130 countries.

The GCEL "HumaWealth" program consists of digital "Soft Infrastructure" with three key elements: an open-source technology platform, a global network of trusted companies, and a deployment program that provides the tools, free of cost to the end users, to decrease the cost of the trade thereby promoting overall trade growth.

More information on GCEL can be found at or contact

Husam Maraqa, Vibin Menon
The Global Coalition for Efficient Logistics (GCEL)
Level 45, Tower 2, Petronas Twin Towers
Kuala Lumpur, Malaysia
00962796494200 .

Contact Info

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Metro Area: ALL REGIONS (Including International) Read More from this Metro Area
Country: Malaysia Read more from this Country
Industry: Technology Read more from this Industry
Press Keywords: finance, technology, trusted companies, deployment program, biggest innovation
Press Company: The Global Coalition for Efficient Logistics (GCEL)
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