INDIA: Rejection of proposal to increase India FDI cap in insurance

Tuesday April 16 2013

A proposal to increase the India foreign direct investment cap in insurance companies to 49% has been rejected by the Parliamentary Standing Committee on Finance.

The Cabinet approved amendments to the Insurance Laws (Amendment), Bill, 2008, including a higher FDI cap of 49%. The standing committee on finance had opposed any increase in FDI limits. The proposal is likely to be taken up by Parliament for passage in the forthcoming Budget Session.

This information will be updated as further details become available.