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The Economic Times

Economy / The Economic Times

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India launches $1.5 billion maritime insurance pool, issues first covers

India has launched its significant Bharat Maritime Insurance Pool. The initiative aims to bolster domestic maritime trade by reducing dependence on foreign insurers. The pool offers a substantial sovereign guarantee, ensuring continuous insurance coverage for vessels. This move provides crucial assurance for India's growing maritime sector. The first insurance covers have now been issued to key entities.

13 May 2026 12:46 am