The Government of India is taking significant steps to strengthen the country’s maritime trade resilience in response to evolving geopolitical challenges and global supply chain disruptions.
In a written reply to the Lok Sabha, Sarbananda Sonowal outlined a series of measures aimed at ensuring uninterrupted maritime trade, reducing logistics costs, and enhancing the competitiveness of India’s shipping and port sector.
The initiatives include facilitating exports, supporting cargo movement, reducing logistics costs, waiving select port charges, strengthening multimodal freight connectivity, and improving the overall efficiency of maritime logistics.
A key announcement is the Government’s proposal to provide a US$1.5 billion sovereign guarantee to establish a domestic maritime insurance pool, a move expected to enhance risk coverage for the shipping sector while reducing dependence on overseas insurance providers.
The measures form part of India’s broader strategy to build a resilient, efficient, and globally competitive maritime ecosystem capable of supporting trade growth amid changing geopolitical and economic conditions.