Chennai, Sept. 2 -- The Indian government's decision to amend the Indian Insurance Companies (Foreign Investment) Rules, 2015 and liberalise certain restrictions is a prelude to the long due amendment to the insurance laws, said industry and legal experts.
They also said the move is made to speed up the implementation of the law as and when it is amended.
On August 29, the Ministry of Finance notified the draft rules amending the Indian Insurance Companies (Foreign Investment) Rules, 2015 and said it will be gazetted after the expiry of a period of fifteen days from the date on which the copies of the draft rules are made available to the public.
"As a prelude to amending the Insurance Act to raise the foreign direct investment (FDI) lim...