India's shipping paperwork just got a glow-up
India just passed the Bills of Lading Act 2025, updating a 169-year-old shipping law dating back to 1856.
The big deal? Trade paperwork is going digital, which could mean massive savings for MSMEs in textiles, chemicals, agri-exports, and more.
All that's left is President Droupadi Murmu's signature.
Bills of lading go digital
The new law makes electronic Bills of Lading (BoL) official and lets them be tokenized on blockchain.
That means no more waiting days for paperwork at ports—digital BoLs can move instantly, cutting delays, lost documents, and expensive logistics headaches.
India syncs with global rules
By syncing with international rules like the UN's Model Law on Electronic Transferable Records (MLETR), India is making it easier to do business across borders.
Experts say this could slash transaction costs by 30% and unlock up to $100 billion in value—a real game-changer for Indian trade.