Sonowal introduces two key bills in Parliament to modernise cargo laws
Mr Sarbananda Sonowal, Union Minister of Ports, Shipping and Waterways, has introduced two significant bills in the Lok Sabha - the Carriage of Goods by Sea Bill, 2024, and the Bills of Lading Bill, 2024 - aimed at aligning Indian regulations with international standards and easing operations. The Carriage of Goods by Sea Bill, 2024 aims to modernise India’s maritime cargo laws to comply with the international convention and the changing global scenario in the shipping industry. The provisions will be applicable to outward cargo i.e. ships carrying goods from Indian port to any other port, whether in or outside India. The Bill looks to bring modern legislation in place of the Indian Carriage of Goods by Sea Act (1925), a pre-Independence era statute. The proposed Bill will repeal and re-enact the said Act with new legislation.
The Bills of Lading Bill, 2024 will provide rights under Bills of Lading to vest in consignees or endorsee. In shipping parlance, a Bill of Lading is a legal document that is issued by a carrier to a shipper detailing the type, quantity and destination of the goods being carried. A Bill of Lading is a document of title, a receipt for shipped goods and a contract between a carrier and a shipper. The newly-introduced Bill will also repeal another pre-Independence era Act, The Indian Bills of Lading Act 1856, as per a report.
Source: Exim News Service: New Delhi, Aug. 11