How India is building its own Maritime Safety Net

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[upbeat music] Hello, folks. You're tuned into Finshots TV. In today's episode, we talk about the Bharat Maritime Insurance Pool that was recently announced. Before we begin, here's a quick word from Team Ditto. Life can be unpredictable, and if the main earner is not around, the bills won't stop. That's why term insurance is so important. It gives your family a fixed payout so they can cover school fees, EMIs, and daily expenses without stress. If you buy it early, you can get a one crore cover for as little as thousand rupees a month, and the premium stays the same for your entire policy term. That's real peace of mind at a very small cost. And if you're not sure which plan is right for you, book a free call with Ditto. No spam, just honest guidance. And we're trusted by over eight lakh people for their health and term insurance needs. Now, back to the story. A few weeks ago, something unusual happened quietly in the background of global trade. India expanded the number of Russian insurers whose marine insurance coverage can be accepted at Indian ports. Soon after, the government launched something called the BMIP, that is, Bharat Maritime Insurance Pool. It's a $1.5 billion, that's about 12,980 crore rupees currently, insurance agreement, which is supported by government guarantee, meant to insure ships and cargo when global insurers are unwilling or unable to do so. If that feels complicated, let's give it some context.