The Shipbuilding Project Credit Insurance Policy of ECGC Limited was launched by the Union Minister for Ports, Shipping and Waterways, Sarbananda Sonowal, during the 21st Maritime State Development Council Meeting 2026 in Mumbai, in presence of Digambar Kamat, Minister for Captain of Ports of Goa; Malladi Krishna Rao, Minister of Ports, Puducherry;  Kanubhai Mohanlal Desai, Minister of Finance, Gujarat; Vijay Kumar, Secretary MoPSW; Mukesh Mangal, Additional Secretary, MoPSW; Sristiraj Ambastha, Chairman-cum-Managing Director (CMD), ECGC; and Shri Paramdeep Lal Thakur, Executive Director (ED), ECGC.

Designed to safeguard Indian shipbuilders against political and commercial non-payment risks at both pre-shipment and post-shipment stages, the policy reinforces financial security, strengthens export confidence, and propels India’s journey towards becoming a global shipbuilding powerhouse.