UK companies invited to invest in insurance sector
India has invited UK companies to invest in the insurance sector. Also, the UK has offered to list directly on the London Stock Exchange for Indian companies. India has increased the foreign direct investment (FDI) limit in the insurance sector from 49 percent to 74 percent. Apart from this, the government has also allowed companies to list abroad without getting listed in the domestic market.
The Finance Ministry said that the first meeting of the India-UK Financial Markets Dialogue was held between the two countries on a virtual platform late Thursday evening. It was established in October 2020 to strengthen bilateral ties in the financial sector. The meeting was attended by top officials of the Finance Ministry as well as independent regulatory agencies. These included the Reserve Bank of India, capital markets regulator SEBI, International Financial Services Centers Authority, insurance regulator IRDA, and Bank of England.
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