Chamber of Commerce advises Indian government to raise insurance foreign ownership cap

Dr Subhash Khuntia, chairman of the Insurance Regulatory and Development Authority of India

The Federation of Indian Chambers of Commerce and Industry (FICCI) has advised the Indian government to raise the ceiling on foreign direct investments (FDI) in the insurance sector, to attract overseas investments. The Insurance Laws (Amendment Bill) 2015 raised the cap on total foreign investment in the insurance sector from 26% to 49%. This cap includes all forms of foreign…

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