Tata Steel has successfully executed its first fully paperless coal import from Australia to India using an Electronic Bill of Lading (eB/L), backed by ICE Digital Trade and banking partners like ICICI and Standard Chartered. This digital milestone boosts trade efficiency, reduces risks, and supports Tata Steel’s mission to achieve Net Zero emissions by 2045 through sustainable and tech-driven practices.
In a landmark move towards transforming global trade through digital innovation, Tata Steel has successfully completed its first paperless import shipment using an Electronic Bill of Lading (eB/L) a digital version of the traditional shipping document—fully integrated with banking partners.
This pioneering transaction involved the import of coal from Queensland, Australia to Dhamra Port in Odisha, under a Letter of Credit, marking Tata Steel’s first-ever end-to-end digital import process. The initiative was carried out in coordination with ICICI Bank, Standard Chartered Bank (Singapore), TS Global Procurement, and the technology provider ICE Digital Trade.
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A Milestone in Global Trade Digitisation
The successful execution of this digital transaction is being hailed as a big step towards modernising trade finance and streamlining supply chain operations. By replacing physical paperwork and courier services with a secure digital alternative, Tata Steel has not only reduced documentation time and operational risks, but also moved closer to its sustainability goals. Peeyush Gupta, Vice President – TQM, GSP & Supply Chain, Tata Steel, stated, “This is a major step in making our supply chain smarter and more eco-friendly. The use of eB/L allows us to overcome old bottlenecks and introduces a new way of moving goods globally—securely, efficiently, and sustainably.”
Trade Finance Reimagined
The digital transaction also signifies a transformation in trade finance. Tata Steel’s integration of banking processes with digital documentation ensures faster access to shipping documents, greater compliance, and more transparency, which are crucial for modern international trade. Sandeep Bhattacharya, Vice President, Financial Control & Business Analytics at Tata Steel, commented, “This marks a leap in trade finance. Our banking partners and digital platforms have helped us reduce turnaround times while ensuring regulatory compliance.”
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Tech-Enabled Banking Collaboration
ICICI Bank and Standard Chartered Bank (Singapore) played key roles in facilitating the transaction. Their involvement reflects a larger shift in global banking towards tech-led services. Anubhuti Sanghai, Head of Transaction Banking at ICICI Bank, noted, “The eB/L solution is a part of our evolution into a tech-led bank. It reinforces our commitment to transforming international trade through innovation and strategic global partnerships.” Maisie Chong, Global Head – Trade and Working Capital at Standard Chartered Bank, said, “This successful transaction is a major milestone in trade finance. It not only shortens timelines but also enhances security and transparency for clients.”
Strengthening Sustainability Goals
This development also supports Tata Steel’s ambitious vision of achieving Net Zero emissions by 2045. Already a frontrunner in using LNG-powered ships, biofuels, and emission-efficient vessels, the addition of eB/L strengthens Tata Steel’s approach to eco-friendly and future-ready trade practices. Tata Steel has a history of embracing innovation. In 2021, the company completed the world’s first blockchain-enabled paperless steel export to the UAE, followed by similar transactions with clients in Bangladesh. Today, it continues to expand its blockchain-based and paperless trade systems across regions like Europe, the Middle East, and South Asia, using various shipping modes including Road, Breakbulk, and Containers.
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