Govt proposes to increase FDI limit in insurance sector to 100%, seeks public comments

November 29, 2024 6:48 PM

Govt proposes to increase FDI limit in insurance sector to 100%, seeks public comments

The central government has announced several proposals aimed at reforming the insurance sector, including raising the Foreign Direct Investment (FDI) limit for Indian insurance companies from 74% to 100%. The move is part of broader efforts to foster growth and development within the sector. In addition to the FDI increase, the government is also proposing to enable insurers to offer one or more classes of insurance business and activities. Another key proposal involves reducing the required Ne...

Piyush Goyal confirms no change in policy on Chinese investments

July 31, 2024 12:31 PM

Piyush Goyal confirms no change in policy on Chinese investments

Commerce and Industry Minister Piyush Goyal has confirmed that the government will not change its policy on foreign direct investments (FDI) from China. This decision comes despite recent suggestions from the Economic Survey. Goyal stated that the ideas presented in the Survey are not binding on the government. “There is no rethinking at present to support Chinese investments in the country,” he said. In 2020, the government mandated approval for FDI from countries sharing land borders wit...