Mumbai, Oct. 14 -- Chaired by Union Minister for Ports, Shipping & Waterways, Sarbananda Sonowal yesterday introduced two specialized credit risk insurance products to support India's shipbuilding industry under the National Shipbuilding Mission. Developed under the Shipbuilding Development Scheme (SbDS), these first-of-their-kind insurance policies aim to reduce financial stress in large-scale ship manufacturing. The Shipbuilding Project Credit Risk Insurance Policy (SbPCP), developed by ECGC Ltd., will cover export projects, while the Business Credit Shield Policy-Shipbuilders (BCSPS), developed by The New India Assurance Co. Ltd. (NIACL), will protect domestic projects. The Government of India will subsidise insurance premiums and prov...