The government introduced a bill in the Lok Sabha on December 2 to modernize and simplify the maritime sector through the Coastal Shipping Act 2024. This legislation aims to increase traffic volumes at key ports and enhance the overall efficiency of the maritime industry, benefiting domestic shipping companies. The bill proposes revolutionary methods to streamline regulatory processes and encourage greater participation in local and foreign trade, while eliminating the need for Indian-flagged vessels to obtain commercial licenses for coastal trade.
Despite calls from opposition members to address various issues, including allegations against industrialist Gautam Adani and recent incidents of violence, Ports and Shipping and Waterways Minister Sarbananda Sonowal introduced the bill. Once passed, the law will create a more conducive environment for domestic shipping companies by reducing red tape and promoting their participation in coastal shipping. Additionally, efforts to harmonize legislation governing international merchant vessels with global standards and establish a national database for coastal shipping will boost the competitiveness of Indian ships in global maritime trade.
India’s extensive coastline and strategic location near major shipping routes offer immense potential for coastal shipping. Sonowal emphasized the need for better support infrastructure and transport connectivity in the coastal maritime transport sector. Recognizing the cost-effectiveness of sea transport, especially coastal shipping, the bill aims to bolster the sector and position India as a key player in the global maritime industry.
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