Insurance
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74 percent Foreign Investment in Indian Insurance Companies Implementation Process Moving Quickly
The Indian government is moving quickly with the changes needed to implement the increase to the foreign investment cap in Indian insurance companies from 49% to 74%, which was announced in this year’s budget speech (2021 Budget Speech).
74% FDI in Indian insurers | Dawn of a new era?
On 1 February 2021, the Indian Finance Minister announced a long awaited increase in the foreign direct investment (FDI) cap in Indian insurers from 49% to 74% as part of her budget (2021 Budget Speech). This development has been under consideration for some time. The Finance Minister had during her budget speech for the year 2019-20 also announced that suggestions for further opening up of FDI in insurance will be examined in consultation with all stakeholders.
Anuj Shah
Anuj Shah is a Partner in the Corporate and Commercial practice group at the firm’s Singapore office. He regularly represents corporations, financial institutions, private equity sponsors and sovereign wealth funds in a broad range of Indian M&A transactions and corporate matters. Anuj is also a 'trusted advisor' to several promoters and corporates.
Akhil Bhatnagar
Akhil is a Partner in the Energy, Infrastructure & Resources and focuses on M&A and Projects. Akhil has over 17 years of experience in Corporate Commercial matters, Acquisitions & Joint Ventures and specialises in advising financial and strategic investors on energy and infrastructure projects. Akhil has also actively advised clients on their overseas acquisitions of natural resources including in Africa, Australia and South America.
Gaurav Dasgupta
Gaurav Dasgupta is a Partner in the Real Estate practice. With over 16 years of experience, Gaurav advises some of the most reputed international and domestic clients in complex transactions.
He specializes in real estate, corporate and commercial laws, insurance laws, banking and NBFC laws and financing/structuring. Gaurav has keen interest in the debt recovery process of banks and NBFCs, liquidation process and has been involved in various matters at the DRT, implementation of the SARFAESI Act and IBC.