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Indian Government Proposes Further Liberalization of Insurance and Pension Sectors
9 October 2012
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On October 4, 2012, the Indian federal cabinet approved putting forward two bills to the Indian parliament that would allow foreign companies to hold up to 49 per cent in Indian insurance firms and pension funds.
The current regime bars foreign investors from buying any equity in pension management companies, and the cap for foreign investment in Indian insurers is currently 26 per cent.
Passing the bills in the Indian parliament may prove challenging as the coalition government is in a minority after its largest partner withdrew support due to last month’s reforms in the multi-brand retail sector.
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