Why in the News?
Parliament has passed the Carriage of Goods by Sea Bill, 2025, replacing the nearly century-old Indian Carriage of Goods by Sea Act, 1925.
About Carriage of Goods by Sea Bill, 2025:
- Replaces: The colonial-era Indian Carriage of Goods by Sea Act, 1925.
- Purpose: Regulates the rights, duties, liabilities, and immunities of parties involved in shipping goods by sea from Indian ports to domestic or international destinations.
- International Alignment: Retains consistency with the Hague Rules (1924), which also formed the basis of the 1925 Act.
- Objective: Modernises maritime law in line with global standards and boosts India’s ease of doing business in the maritime sector.
Key Features:
- Bills of Lading Defined: It outlines the details of the shipment, including the type and quantity of goods, the origin and destination, and the terms of the agreement between the shipper and the carrier.
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- Includes details on goods’ type, quantity, condition, and destination.
- Serves as a legally binding contract between the shipper and carrier.
- Central Government Powers:
- May issue directions for implementation.
- Can amend the Schedule of Rules related to bills of lading.
- Part of Broader Maritime Reforms:
- Supports port development and coastal trade.
- Encourages creation of State Maritime Boards and a Maritime State Development Council.
- Covers port safety, disaster response, pollution control, and dispute resolution.
- Global Compliance: Aligns India’s shipping laws with evolving international conventions and practices.
| [UPSC 2016] The term ‘import cover’, sometimes seen in the news, refers to
(a) It is the ratio of value of imports to the Gross Domestic Product of a country (b) It is the total value of imports of a country in a year (c) It is the ratio between the value of exports and that of imports between two countries (d) It is the number of months of imports that could be paid for by a country’s international reserves* |
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