10 December 2014
GFIA has written to the Indian Prime Minister asking for his support in approving the 2004 Insurance (Amendment) Bill in the Indian Parliament.
GFIA made the case that, if passed, the bill would raise the foreign direct investment (FDI) cap from 26% to 49%. This would make it possible to establish more stable long-term capital into the Indian economy through foreign companies – such as insurers and reinsurers – increasing their stakes in existing joint ventures, as well as attracting new market entrants.
