Arab Today, arab today india opens up insurance sector to more foreign investment
Last Updated : GMT 14:40:10
Arab Today, arab today
Arab Today, arab today

India opens up insurance sector to more foreign investment

Arab Today, arab today

Arab Today, arab today India opens up insurance sector to more foreign investment

Confederation of Indian Industry chief Chandrajit Banerjee
New Delhi - SPA

The Indian parliament opened the country's insurance sector to greater foreign investment, in the first new business law by the government that came to power in May promising economic reform.
Foreign investors will be able to increase their participation in Indian insurance companies to 49 percent, up from the previous cap of 26 percent, under the bill passed by the upper house late Thursday, dpa quoted Finance Ministry DS Malik as saying.
The ruling Bharatiya Janata Party (BJP) is in minority in the house, but was supported by the opposition Congress to pass the bill that had been stalled in parliament since it was first proposed in 2008.
The legislation cleared by the BJP-dominated lower house last week.
'The increase in foreign limit will help attract the much-needed long-term capital for the sector,' Confederation of Indian Industry chief Chandrajit Banerjee said.
The boost to the insurance sector would help meet the country's 'huge infrastructure financing requirements,' he said.
Shashwat Sharma, of international consultancy KPMG, estimated that additional investment of 200 billion rupees (3.2 billion dollars) was likely to flow into the Indian insurance sector in the next few years.
'There is a lot of interest among foreign insurance companies to enter the market here as it has a lot of potential of growth,' he told the IANS news agency.
The government of Prime Minister Narendra Modi is also pushing land reforms to stimulate investment in Asia's third-largest economy.

 

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today india opens up insurance sector to more foreign investment Arab Today, arab today india opens up insurance sector to more foreign investment

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today india opens up insurance sector to more foreign investment Arab Today, arab today india opens up insurance sector to more foreign investment

 



Arab Today, arab today Etiquette expert calls for short visits

GMT 16:21 2017 Monday ,26 June

Etiquette expert calls for short visits
Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday