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of <h1>India Raises FDI Cap in Insurance Sector to 74% with IRDAI Approval; Intermediaries Allowed 100% FDI.</h1> The Government of India has revised the Foreign Direct Investment (FDI) policy for the insurance sector. The FDI cap for insurance companies is set at 74% through the automatic route, subject to approval by the Insurance Regulatory and Development Authority of India (IRDAI). Insurance intermediaries can receive 100% FDI under similar conditions. Indian insurance companies with foreign investment must have a majority of directors and key management as resident Indian citizens. Foreign portfolio investments are regulated under specific rules, and any increase in foreign investment must comply with Reserve Bank of India pricing guidelines. These changes are effective upon FEMA notification.
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