Govt to review, simplify FDI policy to facilitate LIC IPO: DPIIT secy

LIC IPO: Currently, FDI of 74% is permitted in most Indian insurers. However, the rules don't apply to LIC as it is a special entity created by an act of parliament

The government is working towards further review and simplification of the foreign direct investment (FDI) policy to facilitate the proposed initial public offering of the Life Insurance Corporation (LIC), Department for Promotion of Industry and Internal Trade (DPIIT) secretary Anurag Jain said on Thursday.

The final decision will be taken by the Cabinet.

The industry department is working together with the finance ministry’s department of financial services (DFS) and department of investment and public asset management (DIPAM) towards a successful listing of the life insurer on the domestic bourses, which is expected to be the largest in India. Both departments