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Economist Supports 100% FDI in Insurance Sector for India’s Economy

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New Delhi, Dec 30 (IANS) Economist and former President of the Institute of Chartered Accountants of India (ICAI), Ved Jain, on Tuesday said that allowing 100 per cent foreign direct investment (FDI) in the insurance sector will prove to be a positive step for India’s economy and consumers.Speaking to IANS, Jain said that in developed countries, FDI in insurance has not created problems; instead, it has increased competition and improved services.“With 100 per cent foreign investment, compet…