India allows foreign investors to hold 100% stake in insurance companies.

India is currently undergoing significant reforms in its financial sector, in order to attract more long-term foreign capital. It has now allowed global companies to fully own Indian insurance companies. On December 17, the Indian parliament approved the removal of the current 74% cap on foreign ownership of insurance companies. The bill only needs to be signed by the president to officially come into effect. This opening up of the insurance industry comes at a time when foreign investment is pouring into the Indian banking sector, and Wall Street firms are increasingly relying on their Indian technology centers to support global operations.