lic: DPIIT to come out with revised FDI policy to facilitate LIC disinvestment: Secretary

NEW DELHI: The commerce and industry ministry is making changes in the foreign direct investment (FDI) policy to facilitate disinvestment of the country’s largest insurer LIC, after taking views from the finance ministry, a top government official said on Thursday.
Anurag Jain, secretary in the department for promotion of industry and internal trade (DPIIT), said the current policy related to the sector will not facilitate the disinvestment process of LIC and, hence, needs to be revised.
“We are working on further simplification of the FDI policy. A very important point for further simplification is required urgently as we have to do the LIC disinvestment. So, we would be coming out with a revised FDI policy which will facilitate LIC disinvestment,” he told reporters here.
The matter is being discussed with the Department of Financial Services and Department of Investment and Public…

Source link