India to set up P&I Club to enhance maritime landscape

 

In a strategic move that could redefine India’s maritime landscape, the Ministry of Ports, Shipping and Waterways is set to launch India Club, the country’s first indigenous Protection & Indemnity (P&I) insurance entity, it is learnt. Designed to reduce dependency on foreign insurance clubs and bolster India’s maritime sovereignty, the initiative is now under active feasibility study and is expected to go live by early 2026. This marks a significant pivot in India’s shipping policy, with potential ripple effects on MSMEs, logistics firms, shipowners and cargo handlers that currently depend on foreign P&I insurers based in London or Europe. Mr T. K. Ramachandran, Union Shipping Secretary, said that launching India Club is not just a financial reform—it’s a strategic shield for the maritime economy. It will empower local shipowners, protect MSME exporters, and help keep insurance premiums and payouts within Indian jurisdiction, as per a report.

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