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Updated: 5:02 pm Apr 18, 2026

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Cabinet approves 12,980 crore sovereign-backed maritime insurance pool

The Union Cabinet, chaired by Narendra Modi, on Saturday approved a Sovereign Maritime Fund to provide insurance cover for Indian-flagged, India-bound and India-originating vessels. The move aims to strengthen maritime trade resilience, reduce reliance on foreign insurers, and safeguard shipping operations amid rising global uncertainties.

18 Apr 2026 1:25 pm

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