The central government recently passed an amendment in the Insurance Sector Act in the parliament. As per this amendment, Foreign Direct Investment (FDI) is increased from 26% to 49%.
This will facilitate a phenomenal increase in the investments in insurance sector from Rs. 50000 Crores to Rs. 60000/- Crores in the next 5 years.
This opens up a great job opportunity for 6 lakh persons.
According to experts, as this sector grows, it will provide indirect job opportunities for an additional 20 Lakh persons.
A senior official from Insurance Sector told that this development in Insurance Sector will certainly increase direct & indirect job opportunities by 25%.