FDI limit in insurance sector in India will be raised from 74% to 100%, Nirmala Sitharaman announced. This move will open new opportunities for investors and strengthen the insurance industry.
New Delhi. A big change is going to come in India’s insurance sector. Union Finance Minister Nirmala Sitharaman recently announced that the limit of foreign direct investment (FDI) in the insurance sector will be increased from 74% to 100%. This decision will not only bring new opportunities for investors but will also strengthen India’s insurance industry globally. Under this new policy, companies that invest their entire premium in India will get the benefit of this increased limit.
The Finance Minister also said that the existing rules and conditions related to foreign investment will be reviewed and simplified. The aim is to make the process more smooth for investors, so that they can easily enter India’s insurance market. This step is considered an important step towards realizing the dream of ‘Atmanirbhar Bharat’.
With the removal of the limit on foreign investment in the insurance sector, investment in this sector is expected to increase. With the increase in foreign investment, huge employment opportunities can also be created in the insurance sector. It is worth noting that Finance Minister Nirmala Sitharaman is presenting her eighth budget today.
