Budget 2025 can unlock new opportunities for insurance sector. What about 100% FDI?

economictimes.indiatimes.com:

India Budget: The Indian insurance sector is at the cusp of a new growth trajectory that needs policy intervention by the government. The Union budget will provide an excellent opportunity to pump up the insurance sector, which is expecting a reduction in GST rates — to make health and term insurance more affordable, an increase of tax exemption to encourage people for buying insurance policies that would ultimately provide security, long-term capital and ease the inflationary effects on individual tax payers.

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It may also help, if the Union budget provides incentives for insurance in rural India which will significantly impact expanding and promoting insurance in those areas where penetration is very low.

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India, which is ranked as the 10th largest insurance market globally, is projected to become the sixth largest by 2032. To reach that kind of growth, there is a need for more players, more technological advancements, and the use of digital to get into deeper pockets.

Budget to Drive FDI in Insurance

The government’s proposed move to permit 100% Foreign Direct Investment (FDI) in the sector will help facilitate entry of more players into the Indian market, thereby ushering in a new