On March 28, Union Minister Sarbananda Sonowal introduced the “Carriage of Goods by Sea Bill, 2024” in the Lok Sabha, replacing the outdated Carriage of Goods by Sea Act of 1925. This new bill is set to strengthen India’s maritime commerce by providing a solid legal framework for shipping and trade.

Minister Sonowal emphasized that the bill not only builds investor confidence but also supports India’s ambition to become a developed nation. He highlighted that this legislation helps modernize India’s maritime laws, making them clear and accessible for exporters, importers, and shipping professionals.
The bill simplifies the legal language, which can reduce confusion and potential legal disputes. It aligns with international maritime practices, ensuring that India can quickly adapt to changes and regulations in global shipping standards. Additionally, it promotes transparency with provisions for parliamentary oversight.
Relatedly, the introduction of the Indian Ports Bill, 2025 aims to enhance port management by consolidating various laws under a unified framework. This bill will empower state maritime boards to oversee ports outside the major ones, promoting better management and utilization of India’s extensive coastline. It seeks to address critical issues like pollution control, emergency response, and safety protocols at ports.
A notable aspect of these bills is their focus on safety and environmental sustainability, which is increasingly important as global shipping practices evolve. According to recent data, the maritime sector accounts for about 90% of international trade, and nations with robust legal structures often see enhanced trade flows and economic growth.
The introduction of these bills signals a significant shift from colonial legislation towards a modern Indian framework that aims to boost India’s position in global shipping. By 2023, India aims to improve its maritime infrastructure significantly, making it more competitive on the world stage.
Overall, these legislative changes reflect a forward-thinking approach, balancing the need for economic development with environmental responsibility and safety in maritime operations.
Check out this related article: Discover How Much Indian Railways Earns Daily: Surprising Revenue Sources Revealed!
Source link