Q. At present in which of the following sector/sectors 100% Foreign Direct Investment (FDI) is/are allowed?
Choose the correct answer from below given codes:
Explanation: The government said it will allow 100% FDI for medical devices manufacturing in India. All kinds of medical instruments, diagnostic tools and products, any technology and products including clinical implants were included in the category.
- Recently, the Ministry of Finance amended Indian Insurance Companies (Foreign Investment) Rules, 2015 and clarified on the final rules for increased FDI (Foreign Direct Investment) in the Insurance Sector.
- Parliament had passed the Insurance Amendment Bill 2021 to increase the FDI limit in the insurance sector to 74% from 49%.
- The Ministry of Finance has notified ‘Indian Insurance Companies (Foreign Investment) Amendment Rules, 2021’.
- The government notified a hike in the foreign direct investment (FDI) limit in pension fund management to 74% from 49% under the national pension system (NPS), opening doors for experienced foreign partners in this space and facilitating more competition in the fledgling segment.
Source: TMH Ramesh Singh