Lok Sabha Passes Bills of Lading Bill, 2024

On 10th March 2025, the Lok Sabha passed the Bills of Lading Bill, 2024, replacing the Indian Bills of Lading Act, 1856 to modernize the legal framework governing issuance and transfer of bills of lading in India’s maritime sector.

Key Highlights

Modernizing Maritime Trade: The new legislation updates and retains provisions from the 1856 Act while allowing the central government to issue directions for implementation.
Definition of Bill of Lading: A bill of lading is a legal document issued by a freight carrier that serves as conclusive evidence of the type, quantity, condition, and destination of goods on board.
Enhancing Trade & Commerce: The bill aims to streamline maritime trade, boost commercial activities, and align Indian maritime laws with global best practices.
Facilitating Ease of Doing Business: The legislation is expected to simplify legal processes and support India’s goal of self-reliance and becoming a top developed nation by 2047.
Legal Clarification: The bill establishes that a bill of lading is not a contract but evidence of a contract, defining the specific rights and liabilities of consignees.