The move will increase the capital available to support India’s ‘ambitious infrastructure goals’
Two influential US lawmakers have applauded the Indian government’s move to increase foreign direct investment in the insurance sector from the existing 49 per cent to 74 per cent, saying it will further deepen bilateral trade and investment.
India’s Parliament last month passed the Insurance Amendment Bill 2021 to increase the foreign direct investment (FDI) limit in the insurance sector.
“We are very encouraged by the inclusion of a proposal to raise the limit on foreign direct investment in the Indian insurance sector from 49 per cent to 74 per cent,” Congressman Brad Sherman and Steve Chabot said.
Source: The Hindu BusinessLine
