The bill raises the foreign direct investment (FDI) cap in insurance companies from 74% to 100%, fully liberalising foreign ownership, subject to conditions as may be prescribed. Interestingly, in anticipation of the sector’s liberalisation, the finance ministry had issued draft amendments on August 29 to the Indian Insurance Companies (Foreign Investment) Rules, 2015.
The article, authored by Sidharrth Shankar, Partner; and was published in the The Financial Express (Print).
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Sidharrth (Sid) is a seasoned corporate lawyer with a core focus on Private Equity, Mergers & Acquisitions, and Investments/Venture Capital.