CURRENT AFFAIRS
CURRENT AFFAIRS
Description
In a landmark legislative move, the Indian Parliament has approved the Carriage of Goods by Sea Bill, 2025, introducing major reforms to the country’s maritime trade framework. The Bill, which was recently cleared by the Rajya Sabha following earlier passage in the Lok Sabha, will now replace the Indian Carriage of Goods by Sea Act, 1925, a nearly century-old legislation.
Key Provisions Of New Legislation
The newly enacted Bill clearly outlines the rights, responsibilities, liabilities, and protections related to the carriage of goods by sea from Indian ports. Notable features include:
Empowering the Central Government to issue directives for implementation.
Granting authority to amend schedules governing rules related to bills of lading a critical document detailing the nature, quantity, and destination of shipped goods.
This modern legal framework is designed to align with international maritime conventions, aiming to simplify and standardize shipping practices for exporters, importers, and logistics providers.
Boosting Ease Of Doing Business
The new legislation is seen as a key step in reducing regulatory burdens and promoting transparency in maritime trade. Officials have described it as a forward-looking law that brings Indian shipping regulations in line with the current global trade environment. The bill is expected to streamline dispute resolution, ensure contractual clarity, and provide a more business-friendly ecosystem.
Maritime Sector Growth And Economic Significance
The maritime sector has seen substantial growth in the last decade. Under the leadership of Prime Minister Narendra Modi, the cargo handling capacity at major Indian ports has surged from 819 million tonnes in 2014-15 to over 1,600 million tonnes by 2024.
India currently operates 12 major ports and more than 100 minor ports, serving as critical nodes in the global supply chain. Reforms like the Carriage of Goods by Sea Bill are expected to further catalyze investment, improve competitiveness, and contribute significantly to India’s goal of becoming the world’s third-largest economy.
This Reform Is Crucial
The repeal of the outdated 1925 Act and its replacement with the 2025 Bill demonstrates India’s commitment to keeping trade legislation in step with global norms. The updated law is expected to:
Minimize legal conflicts in shipping contracts.
Increase predictability and trust for international trade partners.
Draw in more investment for port and logistics infrastructure.
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