India approves $1.4 billion maritime insurance pool

India has approved a $1.4 billion maritime insurance pool aimed at supporting insurers and maintaining shipping activity as geopolitical tensions and sanctions increasingly disrupt global trade. The initiative is designed to ensure coverage for vessels operating in high-risk regions where private insurers are becoming more reluctant to operate.

The government-backed program will run for an initial period of 10 years, with the option to extend it by an additional five years. Officials say the move will help stabilize trade flows, reduce financial uncertainty for shipping companies, and ensure continuity in maritime operations.

The decision reflects India’s broader effort to strengthen economic resilience and secure its position in global trade networks as instability continues to affect international logistics and insurance markets.