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Indian insurance sector got FDI of USD 185 M between March and May

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New Delhi, Aug.1 : Commerce and Industry Minister Nirmala Sitharamn has revealed that between the months of March and May this year, India’s insurance sector received 185 million dollars in foreign direct investment (FDI), which was a vast improvement over the 147 million dollars that it had received during the same period last year.

She gave this information to members of the Lok Sabha on Friday through a written reply.

In April, the Reserve Bank had notified the government’s decision to raise the FDI limit in the insurance sector to 49 per cent from a previous 26 percent.

Sitharamn said that overall foreign inflows in the country rose by 27 per cent to USD 30.93 billion during the previous fiscal.

In fiscal 2013-14, the figure was USD 24.29 billion, she added. (ANI)