India, Dec. 17 -- Enhancing foreign direct investment limit to 100% will enable global insurance companies to inject substantial capital directly without waiting for domestic partners, Union finance minister Nirmala Sitharaman told the Lok Sabha on Tuesday as the House passed the insurance bill seeking to remove FDI cap along with over a dozen key sectoral reforms.

"If there's a need for growing protection through insurance in this country, we need to have insurance more accessible," she said while replying to an intense debate on the Sabka Bima Sabki Raksha (Amendment of Insurance Laws) Bill, 2025. Citing investors' feedback, she said the current FDI cap at 74% is an impediment for global firms because searching for a suitable Indian pa...