Why India is looking to set up its own P&I club
India is looking to launch its own Protection and Indemnity, or P and I, club (possibly called "India Club") to provide P&I cover to shipowners and operators, including liabilities related to crew (injury, repatriation, etc.), especially with the current West Asia conflict making things risky.
Right now, 22 Indian ships and more than 600 crew members are stuck near the Strait of Hormuz because of the ongoing Israel-Iran tensions.
What will a homegrown P and I club do?
Most Indian ships rely on foreign insurance clubs, which could pull out if sanctions hit.
A homegrown P and I club would help keep India's shipping (and energy supplies) safer and more independent during global crises.
Other countries like China and Russia already have their own clubs, so this move could boost India's maritime security and give it more control when things get unpredictable.