Coastal Shipping Bill, 2024
- Objective: Promote cost-effective, sustainable coastal trade and reduce reliance on roadways/railways.
- Key Provisions:
- Dedicated legal framework replacing outdated vessel-centric laws.
- Simplified licensing for foreign vessels, regulated by the Director General of Shipping.
- National Coastal and Inland Shipping Strategic Plan, revised biennially.
- National Database for Coastal Shipping for data-driven policy and transparency.
- Expanded eligibility for chartering to NRIs, OCIs, and LLPs.
- Active state/UT participation via a multi-stakeholder committee.
- Why: To increase coastal shipping’s freight share, reduce logistics costs and emissions, and align with national policies like Atma Nirbhar Bharat. It will help to improve maritime sector while providing economical, reliable and sustainable mode of transportation.
Protection of Interest in Aircraft Objects Bill, 2025
- Objective: Strengthen legal protection for aircraft financiers/lessors in India.
- Key Provisions:
- Supremacy to the Cape Town Convention and Aircraft Protocol over domestic laws.
- International arbitration for dispute resolution.
- Streamlined repossession procedures for lessors in case of default, without court intervention.
- Why: To enhance India’s compliance with international standards, reduce risk premiums for aircraft leasing, and improve the aviation sector’s investment climate. This also boosts india’s compliance with the Cape Town Convention Index (AWG), making Indian airlines eligible for 8-10% lease cost discounts under the Convention.