Cabinet chaired by India’s prime minister Narendra Modi approved Coastal Shipping Bill, 2024 & repeal Part XIV of the Merchant Shipping Act 1958 except section 411A.
According to officials familiar with the matter, coastal shipping is of strategic importance to the Indian economy, and the Bill will eliminate licensing requirements for Indian vessels.
The Bill, which is part of India’s broader strategy to accelerate the growth of its maritime sector, also calls for the creation of a coastal shipping database. The sector has become an integral part of India’s transport chain, making the Coastal Shipping Bill essential to meet the growing demands of the industry.
The full text of the Bill has not yet been released but the Ministry of Ports, Shipping and Waterways of India unveiled in brief with a social media post that it “will benefit Indian ship owners, non-vessel operating common carriers, cargo owners, Indian seafarers and shipyards.”
The legislation aims to create a secure, robust framework for regulation of the commercial activity of coastal trade and to introduce a framework of regulations at par with up-to date domestic and international standards.
The Bill also eliminates the requirement for Indian vessels to obtain license for engaging in maritime trade.
Furthermore, with the approval of the Coastal Shipping Bill 2024, a national database of coastal shipping will be created with information regarding licenses issued.
