ENA Economy 2025-07-22 15:58:53 <p><span style="font-size:14px"><strong>New Delhi, Jul 22 (KNN) </strong>The Rajya Sabha passed the Bills of Lading, 2025 bill on the opening day of the monsoon session, marking the completion of parliamentary approval for landmark shipping sector reforms. </span></p> <p><span style="font-size:14px">The legislation, which replaces the 169-year-old Indian Lading Act of 1856, now awaits presidential assent to become law.</span></p> <p><span style="font-size:14px">Union Minister for Ports, Shipping and Waterways Sarbananda Sonowal tabled the bill in the upper house after it had previously cleared the Lok Sabha in March 2025. </span></p> <p><span style="font-size:14px">The minister described the legislation as a watershed moment for India's maritime sector and a critical step toward modernising the country's legal framework for shipping documentation.</span></p> <p><span style="font-size:14px">The new law introduces comprehensive reforms designed to align India's maritime regulations with international standards and contemporary business practices. </span></p> <p><span style="font-size:14px">Key provisions include the replacement of archaic terminology with clear, business-friendly language and the streamlining of rights and obligations for carriers, shippers, and lawful holders of shipping documents. </span></p> <p><span style="font-size:14px">The legislation aims to reduce ambiguity in shipping documentation, thereby lowering litigation risks and strengthening India's position in global trade.</span></p> <p><span style="font-size:14px">The legislation incorporates several technical improvements to enhance operational efficiency. </span></p> <p><span style="font-size:14px">It simplifies legal language, restructures complex provisions, and introduces an enabling clause that empowers the Central Government to issue directions for effective implementation. </span></p> <p><span style="font-size:14px">A standard repeal and saving clause ensures continuity and maintains the legal validity of actions taken under the previous Act.</span></p> <p><span style="font-size:14px">The reforms are expected to contribute to improved ease of doing business in India's maritime sector. </span></p> <p><span style="font-size:14px">By reducing regulatory complexity and aligning with international norms, the new framework aims to facilitate smoother enforcement procedures and enhance clarity for all stakeholders in the shipping industry.</span></p> <p><span style="font-size:14px">The minister concluded his remarks by emphasising India's growing maritime ambitions, stating that as the country's maritime sector expands rapidly, the reform will boost business facilitation, reduce commercial disputes, and strengthen India's standing in global trade networks.</span></p> <p><em><strong><span style="font-size:14px">(KNN Bureau)</span></strong></em></p> 42902 https://knnindia.co.in/news/newsdetails/economy/parliament-clears-bills-of-lading-legislation-replacing-169-year-old-colonial-shipping-law 2025-07-22 15:58:53 knnindia.co.in