Lok Sabha Modernizes Bills of Lading Bill to Boost Maritime Activities

The Lok Sabha passed the Bills of Lading Bill, 2024, updating the historic law to align with contemporary practices. This move aims to simplify legal interpretations while empowering consignees and endorsees. Union Shipping Minister Sarbananda Sonowal stressed that this reform is crucial for advancement in maritime activities and overall national development.

In a significant legislative move, the Lok Sabha has approved the Bills of Lading Bill, 2024, marking a modernization effort to streamline and clarify this crucial maritime law. The Bill aims to retain the essence of the existing law while incorporating changes to meet modern standards, ensuring easier comprehension and application.

Union Shipping Minister Sarbananda Sonowal articulated the government's intent, aligning with Prime Minister Modi's vision of reform and transformation. Emphasizing the necessity for pre-independence laws to be updated, Sonowal highlighted the extensive consultations conducted with stakeholders and legal experts.

This reform targets enhanced clarity and efficiency for stakeholders, particularly in the maritime industry, promoting an ecosystem conducive to business and growth. By empowering the Central Government with new legislative provision powers, the Bill seeks to adapt to current and future challenges, maintaining both the spirit and substance of the original Act.

(With inputs from agencies.)