NHAI seeks industry views amid slow surety bond insurance products growth

In an effort to alleviate liquidity difficulties in the construction sector, the National Highways Authority of India (NHAI) is advocating for the adoption of surety bond insurance products for highway projects. The highway authority extended an invitation to stakeholders on Thursday for a discussion to hasten the integration of these bonds, aiming to address the delays in financial closure of highway projects.

The session was presided over by top officials from NHAI and the Department of Financial Services (Ministry of Finance) and was attended by representatives from various insurance companies, contractors, industry experts, and senior officials, according to a statement from the Ministry of Road Transport and Highways (MoRTH).