foreign investment

“The Company (Devas) fraudulently raised foreign investment of Rs 579 crore and subsequently illegally transferred 85% of the investment out of India to its subsidiary in USA in the guise of investment and services fees etc,” the ED investigation revealed.

The government’s decision to raise the limit of foreign investment in Indian insurance companies from 49 percent to 74 percent is a timely boost. Can it be a game changer in an industry weakened by the pandemic?