Union Budget 2025: Government to remove FDI cap for insurers
The Hindu
Finance Minister Nirmala Sitharaman announces raising FDI limit in insurance sector to 100%, attracting global investments and fostering innovation.
Finance Minister Nirmala Sitharaman on Saturday said the foreign direct investment (FDI) limit for the insurance sector will be raised from 74% to 100%.
However, the “enhanced limit will be available for those companies which invest the entire premium in India,” she said, announcing the proposal to remove the cap on FDI, on the condition, in Budget 2025-26 speech.
Current guardrails and conditionalities associated with foreign investment will be reviewed and simplified, she said.
The government in 2020 had permitted 100% FDI in insurance intermediaries such as insurance brokers.
In November 2024, the Department of Financial Services had initiated the process of public consultation on raising FDI in Indian insurance companies from 74% to 100% as well as enabling an insurer to carry on one or more classes of insurance business and activities related/incidental to insurance.
At the heart of the measures is ‘Insurance for All by 2047’ goal being pursued by the government.
Insurance industry leaders and top executives were quick to welcome the Budget proposal.
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