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of <h1>India Raises FDI Cap to 49% for Insurance Sector Under Automatic Route; Ensures Indian Ownership and Compliance.</h1> The Government of India has revised its Foreign Direct Investment (FDI) policy for the insurance sector, increasing the foreign equity cap to 49% under the automatic route. This applies to insurance companies, brokers, third-party administrators, surveyors, loss assessors, and other intermediaries under the Insurance Regulatory and Development Authority Act, 1999. Indian insurance companies must maintain ownership and control by resident Indian entities, and foreign investments must comply with the Insurance Act, 1938. Additionally, foreign portfolio investments are governed by FEMA and SEBI regulations. The changes are effective immediately, ensuring compliance with Reserve Bank of India's pricing guidelines.
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