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ARTICLE · 12 JULY 2014

49% FDI In Insurance: Finally?

Tuli & Co
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In his Budget Speech of 10th July 2014, the Finance Minister, Mr Arun Jaitley, made the following statement in relation to FDI in the insurance sector ..

IndiaInsurance
Celia Jenkins
Celia Jenkins
Neeraj Tuli
Neeraj Tuli
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In his Budget Speech of 10th July 2014, the Finance Minister, Mr Arun Jaitley, made the following statement in relation to FDI in the insurance sector:

The insurance sector is investment starved. Several segments of the insurance sector need an expansion. The composite cap in the insurance sector is proposed to be increased up to 49% from the current level of 26% with full Indian management and control, through the FIPB route.

The decision to raise the permitted foreign investment in the insurance sector to 49% from 26% has been spoken of for a number of years now and this announcement is the latest in a chain of events which commenced more than 2 decades ago:

1991: The Government's industrial policy began the liberalisation of the Indian economy and paved the way for private participation in the insurance sector.

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