{"id":25965,"date":"2022-02-24T18:54:55","date_gmt":"2022-02-24T13:24:55","guid":{"rendered":"https:\/\/tradebrains.in\/features\/biz-nhai-ld-surety-bonds\/"},"modified":"2022-02-24T18:54:55","modified_gmt":"2022-02-24T13:24:55","slug":"biz-nhai-ld-surety-bonds","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/biz-nhai-ld-surety-bonds\/","title":{"rendered":"Huge market available for surety bonds in India; cos need to come out with products: NHAI member"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1365738234\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p> New Delhi, Feb 24 (PTI) National Highways Authority of India (NHAI) member Manoj Kumar on Thursday said a huge market is available for surety bonds in the country and now, the onus is on the insurance fraternity to come out with products quickly.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-4153459670\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div>\n<p> Addressing an event organised by industry body Assocham, Kumar further said the NHAI is working to expand the construction market because &#8220;as a country, we had a certain level of construction capability in a strategic manner by having contracts of various sizes&#8221;.<\/p>\n<p> &#8220;A huge market is available for surety bonds in-country and now, the onus is on the insurance fraternity to come out with products quickly. We have already initiated at authority level discussions with the insurance agencies and companies,&#8221; he said.<\/p>\n<p> The member (project) noted that it is important for the industry to come out with the right kind of insurance products.<\/p><div class=\"trade-content_5\" id=\"trade-914937011\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p> He pointed out that three years ago, the country had 6-7 players who were doing public-private partnership (PPP) and hybrid annuity model (HAM) projects.<\/p>\n<p> &#8220;Today, in the current financial year, we have 25 players. We are now awarding nearly 50 per cent contracts to new players, which in turn has resulted in competitive bids and faster constructions,&#8221; Kumar said.<\/p>\n<p> He, however, added that it poses another challenge as new players often find it difficult to get bank guarantees and that&#8217;s where the roles of surety bonds come in.<\/p>\n<p> Surety bonds are different from corporate bonds and financial guarantees.<\/p>\n<p> While surety bonds refer to the obligation to complete the insured project, the corporate bonds refer to financial obligation to repay the debts or loans.<\/p>\n<p> Kumar said surety bonds can help in the infra development of the country.<\/p><div class=\"trade-content-10\" id=\"trade-930397299\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_3_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"2969612066\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p> He said NHAI has been working with the Insurance Regulatory and Development Authority of India for the past two years and finally the surety bonds guidelines are in place. PTI BKS  HRS hrs<\/p>\n<div class=\"trade-after-content\" id=\"trade-1393137762\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>New Delhi, Feb 24 (PTI) National Highways Authority of India (NHAI) member Manoj Kumar on Thursday said a huge market is available for surety bonds in the country and now, the onus is on the insurance fraternity to come out with products quickly. Addressing an event organised by industry body Assocham, Kumar further said the [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[31],"tags":[],"class_list":["post-25965","post","type-post","status-publish","format-standard","hentry","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Huge market available for surety bonds in India; cos need to come out with products: NHAI member - Trade Brains Features<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/biz-nhai-ld-surety-bonds\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Huge market available for surety bonds in India; cos need to come out with products: NHAI member\" \/>\n<meta property=\"og:description\" content=\"New Delhi, Feb 24 (PTI) National Highways Authority of India (NHAI) member Manoj Kumar on Thursday said a huge market is available for surety bonds in the country and now, the onus is on the insurance fraternity to come out with products quickly. 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