Latest news with #1856
India Today
22-07-2025
- Business
- India Today
Paper to port: How Bills of Lading Bill signals India's next shipping logistics leap
In a largely empty House, amidst the din of a post-lunch Opposition walkout on July 21, the Rajya Sabha quietly passed a piece of legislation that could transform India's maritime logistics and global trade flows. The Bills of Lading Bill, 2025, which replaces the archaic 169-year-old Indian Bills of Lading Act of 1856, might lack the dramatic political appeal but its implications could ripple far deeper than most bill was cleared by the Lok Sabha during the budget session in March and will now go for the president's assent before becoming a its heart, the new legislation aims to modernise how India handles the most fundamental document in global shipping—the bill of lading (BoL). For centuries, this humble document, often printed on crisp bonded paper, has served as the holy trinity of international commerce: a receipt of goods, a contract of carriage and, most crucially, a document of title. Whoever held it—physically—owned the cargo. Until Bills of Lading Bill legally recognises electronic bills of lading, enabling shipping lines, freight forwarders, banks and importers/exporters to digitally issue, endorse and transfer BoLs. In essence, it does to international cargo what the Unified Payments Interface (UPI) did to money: it removes the friction of physical presence and accelerates trust through secure digital systems. The bill's passage comes not a moment too soon. India is working aggressively to reduce logistics costs, currently hovering around 13-14 per cent of the GDP, well above global averages. If the country is to become a serious node in resilient global supply chains, it must offer more than cheap labour and tax incentives. It must offer speed, predictability and interoperability. And that's where the BoL reform experts have long flagged the use of physical BoLs as a bottleneck in India's export value chain. When a container travels faster than the paper that certifies its ownership, cargo sits idle at ports, buyers incur demurrage, and insurers pull their hair out over liability gaps. In many cases, the absence or delay of BoLs forces importers to issue Letters of Indemnity (LoIs), exposing banks and businesses to legal and financial risk. These frictions aren't just technical—they're economic government has finally responded with an overhaul backed by international best practices. The new law aligns with the UNCITRAL Model Law on Electronic Transferable Records (MLETR)—a global framework adopted by countries such as Singapore, the UK and Bahrain to facilitate legally valid electronic documents in trade and shipping. It also syncs with India's broader Gati Shakti logistics platform, the National Logistics Policy and digital trade initiatives such as the Unified Logistics Interface Platform (ULIP).'This bill is not a procedural tweak—it's a statement of intent,' said a senior official in the shipping ministry. 'We are signalling to the world that India will no longer be held back by 19th-century processes for 21st-century trade.'Data from the Digital Container Shipping Association (DCSA) suggests that global adoption of electronic BoLs could save over $4 billion annually, not to mention the environmental savings from reduced paper, courier transport and redundant handling. Indian shippers stand to gain even more, especially in time-sensitive sectors such as textiles, pharmaceuticals and perishables, where even a 24-hour delay can mean loss of market or spoilage of private sector has been cautiously optimistic. Platforms such as TradeLens (a now-defunct Maersk-IBM venture), CargoX and Bolero have already rolled out blockchain-based BoL solutions, but without a domestic legal framework, adoption in India remained stunted. With this law now passed, digital BoLs can be issued with legal confidence, negotiability and enforceability within Indian courts and regulatory challenges remain. Critics such as Biju Janata Dal MP Niranjan Bishi raised concerns in the Rajya Sabha that loosening title transfer protocols without airtight cybersecurity could lead to fraud, data leaks or forged documents. Moreover, the real test will lie not in the law's text but its implementation. India's port systems remain unevenly digitised; many freight forwarders are small, informal operators who lack the tech backbone to adopt eBoLs overnight. Customs, excise and judicial authorities will also need training and updated protocols to recognise and process digital documents in disputes or enforcement also the international angle. For digital BoLs to be truly frictionless, cross-border recognition is essential. If Indian exporters are sending goods to countries that don't yet legally recognise eBoLs, or demand physical documents for banking, the full benefits of the new law may remain unrealised. Much like the journey of UPI's internationalisation, this too will require careful diplomatic and trade the government's strategy seems clear. By pushing through the Bill now—despite the Opposition walkout and with minimal fanfare—it is laying the plumbing for India's emergence as a digitally savvy, high-efficiency trading power. With 90 per cent of India's trade by volume moving via sea, the digitisation of maritime paperwork could bring about a silent revolution in how India trades, settles disputes and scales its global might dismiss the bill as a technical upgrade. But in the complex chessboard of global trade, even small moves—when executed well—can change the game. The Bills of Lading Bill, 2025 is one such move. Now, it's up to the shipping lines, exporters, fintech platforms and customs authorities to make the most of to India Today Magazine- Ends advertisement
Mint
21-07-2025
- Business
- Mint
Parliament clears ‘Bills of Lading, 2025' bill on the 1st day of monsoon sessio, replaces 169 year-old law
The Rajya Sabha passed the 'Bills of Lading, 2025' bill on the first day of the monsoon session on Monday, paving the way for Presidential assent to replace a colonial-era law. Tabled by the Union minister of ports, shipping & waterways (MoPSW) Sarbananda Sonowal, the passage of the bill marks a watershed moment for India's maritime sector, the ministry said. The bill, already passed by the Lok Sabha, now awaits Presidential assent to become law. Once enacted, it will replace the 169 year-old Indian Lading Act, 1856 with a modern, simplified, and globally aligned legal framework for maritime shipping documentation in India. The new law replaces archaic terminology with clear and business-friendly language, streamlining rights and obligations for carriers, shippers and lawful holders; reducing ambiguity in shipping documentation to lower litigation risks as well as strengthening India's position in global trade by aligning with international norms. Tabling the bill, Sonowal said, 'Today, as we reflect on the 76th year since the adoption of the Indian Constitution, it is the perfect moment to cast aside the remnants of colonial and pre-constitutional legacies that hinder our progress. 'Swarnim Bharat' needs a statute that is contemporary, crafted by our own people, and capable of addressing the challenges of the modern era.' The bill renames the outdated law, symbolising a decisive move away from India's colonial past. It simplifies legal language, restructures complex provisions, and introduces an enabling clause empowering the central government to issue directions for effective implementation. By incorporating a standard repeal and saving clause, the legislation ensures continuity and legal validity of past actions under the old Act. These reforms aim to enhance clarity, promote ease of understanding, and enable smoother enforcement in line with contemporary trade and legal standards enabling Ease of Doing Business in India, the ministry said. Sonowal said, ''The Bills of Lading, 2025' bill reflects our constitutional values and marks a vital step in replacing outdated colonial laws with a modern, accessible framework. As our maritime sector expands rapidly, this reform will boost ease of doing business, reduce disputes, and strengthen India's global trade standing. As the saying goes — 'Whoever rules the waves, rules the world' — it's time India leads from the front.'
Style Blueprint
25-06-2025
- Entertainment
- Style Blueprint
Auburn's New Summer Chef Series Has an All-Female Roster!
Share with your friends! Pinterest LinkedIn Email Flipboard Reddit Just because Auburn University students have packed up their books for summer break doesn't mean things have cooled off at 1856 — Culinary Residence. In fact, the heat is definitely on. This fine-dining gem, housed within the Horst Schulze School of Hospitality Management, is keeping the burners hot with the launch of its third annual summer chef series, showcasing the talents of three renowned female chefs from around the South. Pin MARK YOUR CALENDARS! Each chef's three-night residency at 1856 will feature carefully curated menus that reflect their personal culinary philosophies. Think of it as a crash course in the South's most exciting kitchens, without ever leaving Auburn. Reservations are available now through the 1856 – Culinary Residence website. SB Tip: Make a weekend of it and stay at The Laurel Hotel & Spa, where Auburn hospitality students receive immersive training! July 10 – 12: Chef Lauren Windham First up is Chef Lauren Windham, an Auburn alum who's basically culinary royalty at this point. After graduating from the Culinary Institute of America in Napa Valley and winning Food Network's Chopped in 2022, Lauren crisscrossed the country honing her skills before launching her own private chef business in Winter Park, FL. Now, she's coming home to Auburn to show off what she's been cooking up. Spoiler: it's going to be spectacular. July 17 – 19: Chef Maureen Holt The second week brings Chef Maureen Holt, whose name might sound familiar to Birmingham foodies. She was the chef and co-owner of the beloved Little Savannah and now runs Southern Graze, a catering company focused on soulful, Southern-inspired cuisine. But Maureen isn't just about feeding folks; she's also deeply involved in culinary education and mentorship through her work with nonprofits and Les Dames d'Escoffier. Expect warmth, wisdom, and wickedly good eats. July 24 – 26: Chef Aneesha Hargrave Rounding out the month is Chef Aneesha Hargrave, a Johnson & Wales grad whose résumé includes stints with Chopt and Impossible Foods. Her food is rooted in heritage, community, and flavor that tells a story. Aneesha will soon head up the culinary programs at the much-anticipated Elevation Convening Center and Hotel in Montgomery, AL. But before she takes on that adventure, she's bringing her bold, thoughtful approach to Auburn for a can't-miss culinary experience. ********** To stay in the know on the best ways to drink and dine your way through the South, subscribe to StyleBlueprint. About the Author Jenna Bratcher Jenna Bratcher is StyleBlueprint Nashville's Associate Editor and Lead Writer. The East Coast native moved to Nashville 17 years ago, by way of Los Angeles. She is a lover of dogs, strong coffee, traveling, and exploring the local restaurant scene bite by bite.
