ENA Sectors 2025-07-24 18:25:42 <p><span style="font-size:14px"><strong>New Delhi, Jul 24 (KNN)</strong> In a major move to enhance Indias maritime trade, Parliament has passed the Bills of Lading Bill, 2024, which aims to digitise and simplify the documentation process in the shipping industry. </span></p> <p><span style="font-size:14px">This new law replaces the outdated Bill of Lading Act of 1856, aligning Indias shipping regulations with international best practices.</span></p> <p><span style="font-size:14px">The Bill introduces a legal framework for electronic bills of lading (eBL), a critical step towards streamlining cargo documentation. </span></p> <p><span style="font-size:14px">Traditionally, bills of lading are paper-based documents that serve as a receipt for shipped goods and a contract between exporters and shipping companies. </span></p> <p><span style="font-size:14px">By enabling eBLs, the new law is expected to reduce costs, minimise paperwork, and accelerate trade processes.</span></p> <p><span style="font-size:14px">Industry experts believe this reform will significantly improve transparency, security, and efficiency in maritime logistics. </span></p> <p><span style="font-size:14px">The electronic format also helps reduce the risk of document fraud, delays due to lost paperwork, and complications arising from manual errors. </span></p> <p><span style="font-size:14px">According to stakeholders, digitalisation of trade documents will make Indian shipping practices more competitive globally, especially when compared to countries that have already adopted digital trade norms.</span></p> <p><span style="font-size:14px">The shipping industry has welcomed the bill, stating it will enhance ease of doing business and attract more foreign players to Indian ports. </span></p> <p><span style="font-size:14px">It is also likely to encourage increased adoption of blockchain and other secure digital technologies in logistics.</span></p> <p><span style="font-size:14px">Officials noted that the digital shift supports the governments vision of turning India into a global maritime hub and aligns with initiatives like the PM Gati Shakti programme.</span></p> <p><span style="font-size:14px">Overall, the Bills of Lading Bill, 2024, is seen as a progressive step towards modernising Indias shipping industry and boosting the countrys export capabilities by removing long-standing logistical bottlenecks.</span></p> <p><span style="font-size:14px"><em><strong>(KNN Bureau)</strong></em></span></p> 42935 https://knnindia.co.in/news/newsdetails/sectors/parliament-approves-bills-of-lading-bill-to-boost-shipping-sectors-global-competitiveness 2025-07-24 18:25:42 knnindia.co.in