India rolls out credit risk backstop for shipbuilders

India has introduced two government-backed credit-risk insurance products for shipbuilders, aiming to protect domestic yards against missed payments and buyer defaults on vessel construction contracts. The measures, unveiled by shipping minister Sarbananda Sonowal, form part of New Delhi’s wider shipbuilding development programme, which has earmarked INR14.43bn ($152m) for credit-risk coverage. Th Read full article →