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Need safeguards before raising FDI limit to 100% in insurance: Parl Panel

Business Standard LogoBusiness Standard13h ago

Need safeguards before raising FDI limit to 100% in insurance: Parl Panel - Business Standard

Quick Summary:

The Committee would like to emphasise the need for some safeguard measures to be in place to counter concerns like profit repatriation i.e.foreign investors sending earnings back to home countries rather than reinvesting in India; reduced decision-making power of domestic firms; job security concerns arising due to potential automation and cost-cutting measures; focus on high-margin policies, neglecting rural and financially weaker sections etc, it said.

A Parliamentary Panel on Wednesday urged the government to put safeguard measures in place to counter concerns like profit repatriation while raising the foreign direct investment limit to 100 per cent in the insurance sector.

The Standing Committee on Finance, in its report, said the downside of the FDI in India's insurance sector should be dealt with adequately and scrupulously.


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Category: BusinessFinance

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Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-03-19 @ 23:12:09 (13 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 791 words

Reading Time: 5 minutes read

Sentences: 20 lines

Sentence Length: 40 words per sentence (average)

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Copyright Owner: © Business Standard

News ID: 27177911

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