New Delhi -°C
Today in New Delhi, India

Oct 23, 2019-Wednesday
-°C

Humidity
-

Wind
-

Select city

Metro cities - Delhi, Mumbai, Chennai, Kolkata

Other cities - Noida, Gurgaon, Bengaluru, Hyderabad, Bhopal , Chandigarh , Dehradun, Indore, Jaipur, Lucknow, Patna, Ranchi

Wednesday, Oct 23, 2019

Open insurance sector to more FDI, global body tells PM

The Global Federation of Insurance Associations (GFIA), a conglomerate of insurance associations, has written an open letter to Prime Minister Manmohan Singh urging him to further open up the insurance sector.

india Updated: Mar 06, 2013 22:04 IST
HT Correspondent
HT Correspondent
Hindustan Times
Hindustantimes
         

The Global Federation of Insurance Associations (GFIA), a conglomerate of insurance associations, has written an open letter to Prime Minister Manmohan Singh urging him to further open up the insurance sector.

“The purpose of this open letter is to inform you that the global insurance industry looks forward to having the opportunity to work with local partners by introducing new foreign capital into new and existing joint ventures,” the letter written by GFIA says.

The finance minister P Chidambaram recently said that he was confident of getting Parliament support for insurance and pension bills in the current budget session.

The insurance bill seeks to raise the foreign direct investment (FDI) limit to 49% from the current 26%.

Several foreign insurers are already waiting in the wing and are set to enter the Indian market, once the FDI cap has been raised.

First Published: Mar 06, 2013 22:03 IST

top news