12th Aug 2024
- MoU enables India rubber exporters in India to comply with EUDR
- TRST01 to implement its flagship product TRST01Chain to issue due diligence certificates to exporters as per EUDR requirements
- EUDR mandates commodity suppliers to conduct a thorough deforestation analysis, detailed risk assessment and risk mitigation to ensure the goods are not sourced from deforested areas
- Aimed at restricting global deforestation, EUDR is scheduled to be fully implemented from December 30, 2024
Kottayam, Kerala, August 23, 2024 — In a significant development for the Indian natural rubber exporters to the European Union, The Rubber Board under the Ministry of Commerce & Industry, Govt of India, and Hyderabad-based sustainability technology company, TrayamBhu Solutions Private Limited, (TRST01) have signed a Memorandum of Understanding (MoU) today at an event held in Kottayam, Kerala. This strategic partnership aims to ensure compliance with the European Union Deforestation Regulations (EUDR) and drive the growth of the natural rubber exporters in India.
Scheduled to be fully implemented from December 30, 2024, The EUDR imposes new requirements on companies supplying to the EU market or exporting outside the EU relevant seven commodities such as rubber, coffee, cocoa, timber, cattle, soya and palm oil that have been produced using them, such as tyres, furniture, chocolate, leather, clothing products made of natural rubber, paper packaging, and pallets etc. It mandates these companies to conduct thorough deforestation analysis, detailed risk assessment and risk mitigation to ensure these goods are not sourced from deforested areas.
The MoU was signed by Mr M. Vasanthagesan IRS, CEO and Executive Director, The Rubber Board and Mr. Prabir Mishra, CEO, TRST01 in the presence of key stakeholders, industry leaders, and government officials. The agreement marks a pivotal moment in strengthening collaboration between industry and regulatory bodies, focusing on compliance with stringent deforestation regulations such as the European Union Deforestation Regulation being enforced for the commodity exporters.
As a technology partner to The Rubber Board, TRST01 will develop and host a software solution for issuing due diligence certificates to natural rubber products exporters in India as per EUDR requirements.
Speaking on the strategic agreement with TRST01, Mr. M. Vasanthagesan IRS, CEO and Executive Director, The Rubber Board said, “This collaboration with TRST01 is a testament to our dedication to supporting the rubber sector. The initiatives outlined in this MoU will facilitate the exporters to comply with EUDR and make Indian rubber growers globally competitive and get wider opportunities for their produce.
Mr. Prabir Mishra, Chief Executive Officer, TRST01, stated, “We are thrilled to sign MoU with the Rubber Board. This MoU represents a milestone in our commitment to advancing the rubber industry through compliance with stringent deforestation regulations by EU. By partnering with the Rubber Board, we are taking a significant step towards achieving our shared goals of enhancing regulatory compliances and sustainability goals.” Our innovative and groundbreaking solution, TRST01Chain, which is being implemented for natural rubber exporters, is set to revolutionize commodity traceability and ensure compliance with regulations like the EUDR more efficiently.”
Besides developing and implementing mobile app/web interfaces/Block-chain technology digital solutions using suitable state-of-the-art technology tools to meet the traceability and due diligence compliance requirements of the EUDR, TRST01 will add necessary mobile solutions for geotagging/geo-fencing of plantations and mapping of the supply chain operators.
TRST01 will develop and maintain a data accounting software module for Rubber Board as a part of TRST01Chain solution to monitor the data usage from the central database. Additionally, the company will provide web/mobile monitoring tools with dashboard to Rubber Board for monitoring the progress of geo-tagging/polygon mapping/geo-fencing of the rubber plantations for EUDR, certification requests processing, risk assessment, mitigation, committed consignments, etc.
The company will also provide mobile/web interfaces to file EUDR certification requests from supply chain participants in the natural rubber value chain and generate EUDR due diligence certificates through the system to export natural rubber products to the EU.
