Insurance sector needs $5-6 bn in immediate future: FM

Making a strong case for raising FDI cap in insurance sector, Finance Minister P Chidambaram said the industry requires USD 5-6  billion capital in the immediate run.

“Every company already has 26 per cent FDI. So if you raise the cap from 26 per cent to 49 per cent, then there is a headroom for  them to bring in more capital. The estimated capital requirement in insurance sector is about USD 5-6 billion in the immediate  future,” the Minister told reporters. Read more