Official announcement from the Indian Parliament or government press releases

India Considers Allowing 100% FDI in Insurance Sector, Says IRDAI Sources

Nov 18, 2024, 08:03 AM

The Indian government is considering a proposal to allow 100% foreign direct investment (FDI) in the insurance sector. The Insurance Regulatory and Development Authority of India (IRDAI) has sent a proposal to the government advocating for this change, according to sources. This move is part of a broader set of key reforms aimed at opening up the insurance industry to more foreign investment. The government is expected to introduce a bill regarding this proposal in the next session of Parliament.