India Launches ₹12,980 Crore Sovereign Maritime Insurance Pool Amid Hormuz Transit Uncertainty

The Union Cabinet, chaired by Prime Minister Narendra Modi, has approved the creation of the Bharat Maritime Insurance Pool (BMI) with a sovereign guarantee of ₹12,980 crore.This initiative is designed to provide uninterrupted insurance coverage for Indian-flagged, India-bound and India-originating vessels, strengthening maritime trade resilience and reducing dependence on foreign insurers.The
The Union Cabinet, chaired by Prime Minister Narendra Modi, has approved the creation of the Bharat Maritime Insurance Pool (BMI) with a sovereign guarantee of ₹12,980 crore.This initiative is designed to provide uninterrupted insurance coverage for Indian-flagged, India-bound and India-originating vessels, strengthening maritime trade resilience and reducing dependence on foreign insurers.The
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