New Delhi, July 24 -- In a major move to enhance India's maritime trade, Parliament has passed the Bills of Lading Bill, 2024, which aims to digitise and simplify the documentation process in the shipping industry.

This new law replaces the outdated Bill of Lading Act of 1856, aligning India's shipping regulations with international best practices.

The Bill introduces a legal framework for electronic bills of lading (eBL), a critical step towards streamlining cargo documentation.

Traditionally, bills of lading are paper-based documents that serve as a receipt for shipped goods and a contract between exporters and shipping companies.

By enabling eBLs, the new law is expected to reduce costs, minimise paperwork, and accelerate trade pro...