Reforming India’s maritime future — stronger ships, stronger economy.

Govt Set to Table Landmark Merchant Shipping Bill to Boost Maritime Sector 

The government will introduce the Merchant Shipping Bill, 2024, in the Lok Sabha to overhaul the 1958 Act and modernise India’s maritime ecosystem. Aimed at increasing India’s shipping tonnage and enhancing its position as a bankable maritime jurisdiction, the Bill enables broader ownership of Indian-flagged vessels by NRIs, OCIs, LLPs, and joint ventures. It also introduces flexible registration norms, encourages foreign vessel registration under Indian flag, and integrates key international conventions like the Nairobi and Salvage Conventions. This legislation is designed to improve seafarer welfare, emergency marine incident response, adjudication processes, and environmental protection. With India currently controlling less than 5% of its overseas cargo, the Bill addresses foreign freight dependency and aims to curb forex outflow. It’s part of the Maritime Amrit Kaal Vision 2047 and supports the vision of Atmanirbhar Bharat and a $5 trillion economy by strengthening India's maritime trade capacity.