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Economic Times
07-08-2025
- Business
- Economic Times
Parliament passes The Coastal Shipping Bill
Synopsis Amidst opposition protests, Parliament has passed The Coastal Shipping Bill, 2025, aiming to boost domestic shipping and national security. The bill, already approved by the Lok Sabha, seeks to streamline regulations for Indian ships, promoting ease of doing business. It defines coastal waters and encourages Indian ownership and operation of coastal fleets for commercial and strategic purposes. Parliament on Thursday passed The Coastal Shipping Bill, 2025 with the Rajya Sabha approving it amid continued protest by Opposition MPs demanding a discussion on revision of electoral rolls in Bihar. Union Ports, Shipping and Waterways Minister Sarbananda Sonowal said the Bill would reduce the compliance burden for Indian ships in line with the concept of "ease of doing business", and ensure supply chain security for the country. The Coastal Shipping Bill, 2025 was approved in the Upper House through voice vote amid protests over the Special Intensive Revision (SIR) issue. The Bill was approved by the Lok Sabha on April 3, 2025. The text of the Bill says it aims to consolidate and amend the law relating to regulation of coastal shipping, promote coasting trade and encourage domestic participation therein, to ensure that India is equipped with a coastal fleet, owned and operated by the citizens of India for its national security and commercial needs. Under the Bill, coastal waters mean territorial waters of India, along with adjoining maritime zones. Territorial waters extend up to 12 nautical miles (about 22 km) from the coast, while adjoining maritime zones extend up to 200 nautical miles (about 370 km).
Time of India
07-08-2025
- Business
- Time of India
Parliament passes The Coastal Shipping Bill
Parliament on Thursday passed The Coastal Shipping Bill , 2025 with the Rajya Sabha approving it amid continued protest by Opposition MPs demanding a discussion on revision of electoral rolls in Bihar. Union Ports, Shipping and Waterways Minister Sarbananda Sonowal said the Bill would reduce the compliance burden for Indian ships in line with the concept of "ease of doing business", and ensure supply chain security for the country. Productivity Tool Zero to Hero in Microsoft Excel: Complete Excel guide By Metla Sudha Sekhar View Program Finance Introduction to Technical Analysis & Candlestick Theory By Dinesh Nagpal View Program Finance Financial Literacy i e Lets Crack the Billionaire Code By CA Rahul Gupta View Program Digital Marketing Digital Marketing Masterclass by Neil Patel By Neil Patel View Program Finance Technical Analysis Demystified- A Complete Guide to Trading By Kunal Patel View Program Productivity Tool Excel Essentials to Expert: Your Complete Guide By Study at home View Program Artificial Intelligence AI For Business Professionals Batch 2 By Ansh Mehra View Program The Coastal Shipping Bill, 2025 was approved in the Upper House through voice vote amid protests over the Special Intensive Revision (SIR) issue. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Costco Shoppers Say This Fat-Burning Patch Triggers Weight Loss "Unlike Any Other" Health Advice Today Undo The Bill was approved by the Lok Sabha on April 3, 2025. The text of the Bill says it aims to consolidate and amend the law relating to regulation of coastal shipping, promote coasting trade and encourage domestic participation therein, to ensure that India is equipped with a coastal fleet, owned and operated by the citizens of India for its national security and commercial needs. Live Events Under the Bill, coastal waters mean territorial waters of India, along with adjoining maritime zones. Territorial waters extend up to 12 nautical miles (about 22 km) from the coast, while adjoining maritime zones extend up to 200 nautical miles (about 370 km).
Economic Times
30-07-2025
- Business
- Economic Times
Average turnaround time at Indian ports falls to less than a day: Sonowal
IANS Union Ports, Shipping, and Waterways Minister Sarbananda Sonowal The turnaround time at Indian ports has fallen to less than a day, Union Ports, Shipping, and Waterways Minister Sarbananda Sonowal said Thursday. Speaking at the Maritime Financing Summit 2025, the minister said India, as a maritime nation, is undergoing a transformative shift backed by policy support and rising investment momentum. 'Our ports have significantly improved operational efficiency, with the average turnaround time reduced from 4 days to less than 1 day, outperforming many advanced nations,' he said while adding container handling capacity at major ports has grown by over 70%, and cargo volumes through coastal and inland waterways have said the goal is to make India a global maritime hub not just in trade, but also in finance, shipbuilding and green maritime infrastructure. An official statement said policy measures for supporting the domestic shipping sector were deliberated during the conference. These included recognising large vessels as infrastructure assets, extending the Shipbuilding Financial Assistance Scheme (SBFAS) to overcome the cost disadvantage, providing long-term visibility on the financial incentives available in the sector, and enabling ship leasing through GIFT City IFSC.
Time of India
24-07-2025
- Business
- Time of India
Average turnaround time at Indian ports falls to less than a day: Sonowal
India's port turnaround time has dramatically improved, now under a day, surpassing many advanced nations, according to Union Minister Sarbananda Sonowal. This boost in efficiency, coupled with increased container handling capacity and cargo volumes, supports India's ambition to become a global maritime hub. Policy measures are being implemented to further bolster the domestic shipping sector and attract investment. Tired of too many ads? Remove Ads The turnaround time at Indian ports has fallen to less than a day, Union Ports , Shipping, and Waterways Minister Sarbananda Sonowal said Thursday. Speaking at the Maritime Financing Summit 2025, the minister said India, as a maritime nation, is undergoing a transformative shift backed by policy support and rising investment momentum.'Our ports have significantly improved operational efficiency, with the average turnaround time reduced from 4 days to less than 1 day, outperforming many advanced nations,' he said while adding container handling capacity at major ports has grown by over 70%, and cargo volumes through coastal and inland waterways have said the goal is to make India a global maritime hub not just in trade, but also in finance, shipbuilding and green maritime infrastructure An official statement said policy measures for supporting the domestic shipping sector were deliberated during the conference. These included recognising large vessels as infrastructure assets, extending the Shipbuilding Financial Assistance Scheme (SBFAS) to overcome the cost disadvantage, providing long-term visibility on the financial incentives available in the sector, and enabling ship leasing through GIFT City IFSC.
Time of India
03-06-2025
- Business
- Time of India
Inviting global domain experts to achieve India's Maritime Vision 2047 goals: Sarbananda Sonowal
India is partnering with global experts to realize its Maritime Vision 2047. Union Minister Sarbananda Sonowal is leading discussions at Nor Shipping 2025 in Norway. A key agreement involves building India's first Polar Research Vessel with Norwegian collaboration. India aims to significantly increase its port capacity and inland waterway cargo volume. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads India is bringing domain expertise from leading nations to ensure maritime vision 2047 goals are met according to Union Ports, Shipping, and Waterways Minister Sarbananda Sonowal . The Minister is currently leading the Indian delegation at Nor Shipping 2025 in Norway. An official statement said India will be building its first-ever Polar Research Vessel (PRV) after Garden Reach Shipbuilders & Engineers (GRSE) signed an agreement with Norway's Kongsberg.'Discussions have been held with countries that have expertise in maritime infrastructure development. Partnerships will be forged in line with 2047 goals,' Sonowal told ET over the phone from Oslo.'Global best practices will be incorporated in domestic maritime operations,' he aims to ramp up cargo handling capacity of its ports fourfold to 10,000 million tonnes per annum (mtpa) by 2047. Among other goals, the Maritime India Vision 2047 aims for a 400% increase of inland waterway cargo volume to reach 500 MTPA by the cutoff year. Efforts are also expected towards scaling up the domestic shipbuilding industry where India currently has less than 1% of global part of the agreement between GRSE and Kongsberg, the domestic shipbuilding sector is expected to receive design expertise for developing the PRV.'This will meet the requirement of India's National Centre for Polar and Ocean Research (NCOPR) that will use it for research activities in the polar and Southern Ocean realms,' the statement said while adding this research vessel will be built in GRSE's Kolkata the conference, Sonowal invited Norwegian shipowners to invest in India. He noted that Indian shipyards currently hold 11% of the Norwegian Shipowners' Association (NSA)'s order book.'We invite greater collaboration with Norway to build a green, smart, and resilient maritime ecosystem,' he said while adding this partnership is reflected in Indian shipyards delivering vessels to Norwegian firms. The Minister also sought Norway's cooperation in green shipping corridors , ship recycling, and International Maritime Organisation (IMO)-aligned net-zero goals.
