Cabinet approval to the FDI in insurance sector to 49% from 26% and 26 per cent FDI in pension sector is inspiring and it would go a long way to rebuild investment sentiments in the country. There is a strong need to channelize the household savings from physical assets to financial assets and allowing FDI in pension sector and enhanced cap in insurance sector will facilitate financial sector vis-vis strong financial infrastructure, said Mr. Sharad Jaipuria, President, PHD Chamber of Commerce & Industry.
FDI in insurance sector will also strengthen the capital flows in the coming time. Long-term capital investments in insurance industry and pension sector would be critical to protect human life and to boost infrastructure, he said
Cap on foreign direct investment in insurance has been raised from 26 per cent to 49 per cent, and pension sector has been allowed 26 per cent FDI.
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