Public SystemsCREATEAnnounced
Two credit risk insurance policies announced for India’s shipbuilding projects
Mumbai, Maharashtra13 Oct 2026
The Ministry of Ports, Shipping and Waterways announced two specialised credit risk insurance products for shipbuilding under the National Shipbuilding Mission: the Shipbuilding Project Credit Risk Insurance Policy (SbPCP) by ECGC Ltd for export projects, and the Business Credit Shield Policy Shipbuilders (BCSPS) by The New India Assurance Co Ltd for domestic projects. The central government said it will subsidise insurance premiums and provide direct support to insurers in case shipyards file claims.
Why it matters
These policies are intended to reduce payment-delay and credit risks for shipyards, which can help keep multi-year shipbuilding projects financed and moving.
Ministry of Ports, Shipping and WaterwaysECGC LtdThe New India Assurance Co Ltd