India’s cabinet has approved the Coastal Shipping Bill to simplify processes

Indian shipping stocks experienced a surge upon the announcement that the bill was progressing to cabinet approval. The government in New Delhi is eager to shift cargo transportation from road and rail to ships to alleviate congestion.

This bill is part of a series of initiatives from the Narendra Modi-led administration aimed at strengthening maritime capabilities, with the prime minister focused on developing some of the largest ports and shipyards in the world over the coming years. In July, India’s Ministry of Ports, Shipping, and Waterways introduced the India Maritime Centre (IMC), a key initiative under the Maritime India Vision 2030 established by the Modi government.
The IMC is intended to serve as a consolidated platform for the Indian maritime industry, functioning as a think tank for policy development and industry recommendations.