21st MSDC in Mumbai launches shipbuilding credit-risk insurance; first meet under Ports Act 2025
On 13 October 2026, the 21st Maritime State Development Council in Mumbai — first after statutory recognition under the Indian Ports Act, 2025 — launched shipbuilding credit-risk insurance products and set ONOP reforms by March 2027.
Summary
The 21st Maritime State Development Council concluded in Mumbai on 13 October 2026, chaired by Union Ports Minister Sarbananda Sonowal. It was the first MSDC meeting after the Council's recognition as a statutory consultative body under the Indian Ports Act, 2025 (notified 15 May 2026). The Council launched Shipbuilding Project Credit Risk Insurance Policy (SbPCP) and Business Credit Shield Policy–Shipbuilders (BCSPS), and said One Nation One Port Process reforms would be implemented across ports by March 2027.
Key facts
- Meeting
- 21st Maritime State Development Council, Mumbai
- Status
- First MSDC meeting after statutory recognition under Indian Ports Act, 2025 (notified 15 May 2026)
- Chair
- Union Minister Sarbananda Sonowal
- Insurance products launched
- Shipbuilding Project Credit Risk Insurance Policy (SbPCP); Business Credit Shield Policy–Shipbuilders (BCSPS)
- ONOP target
- One Nation One Port Process reforms across ports by March 2027
Practice MCQs 3 questions
In October 2026, where did the 21st Maritime State Development Council meeting conclude?
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Correct answer: A — Mumbai
The October 2026 MSDC meeting was the first after the Council gained statutory status under which law?
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Correct answer: B — Indian Ports Act, 2025
By when did the 21st MSDC say One Nation One Port Process reforms should be implemented across ports?
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Correct answer: C — March 2027