Parliament agrees to increase the limit of foreign investments

The Indian Parliament has agreed to raise the ceiling on foreign investments from 26 to 49%. The law which has been subject to that instance since 2008, is now awaiting the approval of the Presidency and is expected to materialize without hindrance.

Foreign insurers will henceforth hold 49% of local companies’ capital. According to Arundhati Bhattacharya, chairman of the State Bank, this change is likely to attract over 3 billion USD investments in the country in the coming months.