India confident of Pension, Insurance Reforms

London: India has said that it was confident of pushing through reforms in the insurance sector to allow greater foreign ownership as also the pension sector, as it seeks more overseas investments to sustain high growth.

Finance minister P Chidambaram told the Indo-British partnership network in London yesterday that the government was confident of mustering broad-based support for the pension fund regulatory and development authority bill as well as a bill for allowing greater FDI in insurance.

"Given patience and time, these bills will become law," Chidambaram said, adding that the government had to move cautiously in view of reservations expressed by some coalition partners... read more