India: Opposition may allow raising foreign investment limit in insurance sector

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The Bharatiya Janata Party, an Indian political party, will consider allowing more foreign investment into India's over $45 billion insurance business if it comes to power after elections due by May 2014, a senior party leader said.

The ruling Congress government has been seeking parliament's approval to enhance the foreign investment cap from the current level of 26% to 49%, Reuters reported.

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