New Delhi, December 13: The Union Cabinet, chaired by Prime Minister Narendra Modi, has approved a Bill to increase Foreign Direct Investment (FDI) in the insurance sector from the existing 74 per cent to 100 per cent. The decision is aimed at attracting greater foreign investment, strengthening the insurance ecosystem, and enhancing penetration of insurance services across the country.
Officials said the move will help bring in additional capital, advanced technology, and global best practices into the Indian insurance market. The proposed amendment is also expected to improve competition, create employment opportunities, and support long-term growth of the sector, while safeguarding policyholders’ interests through regulatory oversight.
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