While manufacturing has seen a revival, the financial services has witnessed the maximum jump among the major sectors and the FDI in the sector rose 200 per cent from $1.02 billion in FY14 to $3.07 billion in FY15.
Irda has been making efforts to launch a policy of open architecture bancassurance policy.
Earlier, General Motors moved from Gujarat to Maharashtra for its $1 billion investment and Foxconn announced a $5 billion investment in the state.
Even in the first two months, Maharashtra managed to retain its number 2 spot drawing in $1.67 billion between April and May.
Foxconn chose Maharashtra over other states because it has a leading financial centre, and is home to quality talent and software-hardware integration facilities, Gou said after signing the MoU.
Firm commitments from companies after Fadnavis’s investment roadshows in US, China, Germany and Israel.
There are around 400 members who handle 20 per cent of the Rs 84,000 crore premium generated by the Indian general insurance industry.
The Cabinet has approved a ‘composite’ cap for foreign investment in Indian companies, removing sub-ceilings for multiple investor categories. The move is expected to boost overseas investment flows.
The government should focus on due diligence and do away with foreign investment caps.
Don’t want hot money of portfolio investment to come in these sectors beyond a limit: Official.
Four months since Parliament cleared a higher FDI cap for the insurance sector at 49 %, none of the major Indian companies have made any tangible moves to rope in capital from abroad.
The proposal is aimed at simplification of FDI policy with a view to attracting foreign investments and also improving ease of doing business in India.
Earlier this year, states including Gujarat and West Bengal too held global investor summits.
The meeting was called by DIPP secretary Amitabh Kant to discuss issues in the retail sector
LIC chairman SK Roy said the corporation is set to regain the market share in premium income.