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T.S. Vijayan, chairman of India's Insurance Regulatory Development Authority, has said that the country's insurance industry requires a major capital influx amounting to more than 500 billion Indian rupees ($8.13 billion), reports The Siasat Daily.
Foreign direct investment can increase the flow of capital into the sector, said Mr. Vijayan.
Speaking about the yet to be approved amended insurance bill, Mr. Vijayan said that e-commerce and repositories must be included in the bill.