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23 July 2017

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Indian parliament passes bill to raise FDI cap

Jenny Messenger 12 March 2015

A bill to raise the ownership limit on foreign direct investment (FDI) in India from 26 percent to 49 percent was today (12 March) passed by the upper house of India's parliament.

The new FDI cap could make the Indian insurance market more appealing to overseas interest, as well as insurers with existing joint venture arrangements.

Although the cap will be raised, an Indian insurer must still be "controlled" by Indian citizens.

The decision will enable Willis to go ahead...


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