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Govt to further relax rules for FDI in insurance sector
Hindustan Times Ranchi
|February 04, 2025
The government plans to further liberalize foreign investment rules for insurance companies by removing the condition that mandates the presence of Indian residents in the boards and top management of insurance entities, said top finance ministry officials.
NEW DELHI:
The insurance reforms bill will be introduced in the ongoing budget session of parliament, one of these officials said.
In her Budget speech on Saturday, finance minister Nirmala Sitharaman announced the government would allow foreign entities to fully own insurance companies in India by increasing the foreign direct investment (FDI) limit from 74% to 100%.
She added, "The current guardrails and conditionalities associated with foreign investment will be reviewed and simplified."
This story is from the February 04, 2025 edition of Hindustan Times Ranchi.
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