FDI in Insurance: More investments may result in FIIs controlling stakes in Indian firms
Sai Nikesh | The Dollar Business The holdings of Foreign Institutional Investors (FIIs) in Indian insurance promoters will not be part of the total Foreign Direct Investment (FDI), informed an official release on Wednesday. Informing this, the Insurance Regulatory Authority of India (IRDAI) was said to have published on Wednesday, a clarification by the Department of Financial Services on the matter. According to the clarification provided, holdings of equity in an Indian promoter company held by FIIs, other than the foreign promoters of the applicant and their subsidiaries and nominees, will not be part of the FDI and this was seen as a relief to several Indian entities that have a high FII holding. Speaking to The Dollar Business, Jose Verghese, Advisor, ...
