Tarun Chugh, MD & CEO, Bajaj Allianz Life Insurance
"The Union Budget has clearly focussed on driving consumption led growth and foster inclusive development. A key highlight is the increase in the FDI limit in the insurance sector from 74% to 100%, a move set to bring in fresh capital and bolster the industry's financial strength. The decision reflects the government’s continued commitment to making India a prime investment hub for stable, long-term capital.
Greater foreign participation, will accelerate the adoption of global best practices, introduce innovative products, and elevate customer service standards. Additionally, the mandate to invest premiums within India ensures that these funds contribute to domestic economic growth and infrastructure development.
The next five years present a significant and an exciting opportunity to propel the industry forward onto greater heights."
