<h1>Foreign Companies Not Operating Independently in India's Insurance Sector; FDI Cap at 26% for Joint Ventures.</h1> The Insurance Regulatory and Development Authority (IRDA) reported that no foreign companies are independently operating in India's insurance sector. However, foreign entities can participate as joint venture partners, with a Foreign Direct Investment (FDI) cap set at 26%. Currently, there are 38 private insurance companies in India working alongside their foreign joint venture partners. This information was provided by the Minister of State for Finance in a written response to a query in the Lok Sabha.