Print

Lok Sabha passes Carriage of Goods by Sea Bill, seeks to replace century-old legislation

The Lok Sabha has passed the Carriage of Goods by Sea Bill, 2024, which aims to modernise regulations governing the responsibilities, liabilities, rights, and immunities of carriers involved in the transportation of goods by sea.

The bill, which also addresses matters connected therewith or related thereto, was introduced to repeal and replace the century-old pre-Independence legislation, the Indian Carriage of Goods by Sea Act, 1925.
Union Minister of Ports, Shipping and Waterways, Sarbananda Sonowal, highlighted the significance of the new legislation, stating that it updates a framework that has been in place for 100 years.
“This bill intends to repeal and replace the 100-year-old pre-independence legislation, the Indian Carriage of Goods by Sea Act, 1925,” Sonowal said.

The minister further elaborated that the Act applies to ships transporting goods from an Indian port to a foreign port and between Indian ports, thereby encompassing both international and domestic carriers of goods by sea.

“The Act is applicable when ships are carrying goods from an Indian port to a foreign port or from one Indian port to another, covering international carriers of goods from India as well as domestic carriers of goods by sea,” he added.

According to the business list, Sonowal will also introduce ‘The Indian Ports Bill, 2025’ in the Lok Sabha on Friday.

The bill aims to consolidate the law relating to ports, promote integrated port development, facilitate ease of doing business and ensure the optimum utilisation of India’s coastline by establishing and empowering State Maritime Boards for effective management of ports other than major ports.

Also, to establish the Maritime State Development Council for fostering structured growth development of the port sector; provide for the management of pollution, disaster, emergencies, security, safety, navigation, and data at ports; ensure compliance with India ‘s obligations under international instruments to which it is a party.

(ANI)

RELATED ARTICLES

53 mins ago | Crude Steel

India Plans Triple Steel Capacity by 2047

India envisages a near threefold expansion in crude steelmaking capacity to 604 million tonnes by 2047 and raise finished steel demand to 505 million tonnes, while reducing dependence on imported coking coal, according to the draft National Steel Pol...

2 hours ago | Equity Mutual Fund Inflows Rise Over 30% in September

Equity Mutual Fund Inflows Rise Over 30% in September; Industry AUM at Rs 82.64 Lakh Crore: AMFI

Net inflows into equity mutual funds rose 30.61 per cent month-on-month to Rs 38,306.55 crore in September, while the industry's total assets under management (AUM) stood at Rs 82.64 lakh crore, according to data released by the Association of Mutual...

4 hours ago | FII

Foreign institutional investors’ holdings in India grew 3.6 times to $783 billion since 2012

The decline in foreign institutional investor (FII) ownership of Indian equities to a 17-year low of 15.1 per cent should not be viewed in isolation, as the absolute value of FII holdings has increased 3.6 times to around $783 billion since 2012, a...