Congress signals it could back Modi’s insurance reform plan

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Modi speaks to the media upon his arrival on the opening day of the winter session of the Indian Parliament in New Delhi

By Sanjeev Miglani NEW DELHI (Reuters) – The main opposition Congress party signalled on Monday it could support government legislation to liberalise the insurance industry, a long-delayed reform expected to help improve investor confidence. Prime Minister Narendra Modi proposed in August to lift the cap on foreign investment in insurance ventures from 26 percent to 49 percent, but the opposition blocked the move in the upper house of parliament, where he lacks a majority. …

Source: https://in.news.yahoo.com/congress-signals-could-back-modis-insurance-reform-plan-150042368–business.html

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