Washington: Increasing Foreign Direct Investment in the insurance sector is top priority for the ruling UPA, Finance Minister P Chidambaram said on Saturday, hoping that a bill to address the issue will be passed in the upcoming Parliament session. Responding to questions at the Peterson Institute, Chidambaram appreciated the efforts of the insurance industry in reaching out to the opposition parties and hoped that this would help the political parties understand the issues and thus help in the passage of the bill.
"Parliament opens on April 22. It (Insurance FDI) is right there in top of the agenda. We are stuck on one clause, FDI cap whether it should be 26 or raised to 49. If the principle opposition party comes around, the bill will be passed,"
Chidambaram said.
"I am keeping my fingers crossed. I sincerely hope that the efforts of the insurance industry in speaking to the Opposition will be helpful and I can pass the bill," Chidambaram said....
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01:31 PM, Apr 20, 2013
New Delhi: Prime Minister Manmohan Singh and South African President Jacob Zuma "interacted on several occasions" during the BRICS summit in Durban though the two sides did not hold delegation-level talks, an official said in New Delhi on Wednesday. Seeking to refute reports that the Indian delegation failed to hold a separate meeting with Zuma, who held bilateral talks with his Chinese and Russian counterparts, a spokesperson of the Ministry...
03:18 AM, Apr 04, 2013
The fifth BRICS summit has promoted unity among major emerging economies and injected fresh impetus into the cooperation mechanism, Chinese Foreign Minister Wang Yi said on Sunday. ...
04:58 AM, Apr 01, 2013
Notwithstanding pledges to take the bilateral relationship to a new level, Prime Minister Manmohan Singh in his first meeting with new Chinese President Xi Jinping has sought a joint mechanism to assess the construction work on dams on Brahmaputra river in Tibet. ...
01:26 AM, Mar 29, 2013
Prime Minister Manmohan Singh on Wednesday met Chinese President Xi Jinping on the sidelines of the BRICS Summit in Durban. This was the first structured high-level meeting between the two countries since the change of leadership in China. ...
07:57 AM, Mar 28, 2013
In a major move aimed at reforming the global financial architecture, the BRICS finance ministers on Wednesday agreed on the setting up of a development bank to fund infrastructure and development projects in the five-nation grouping of emerging powers. ...
09:59 PM, Mar 27, 2013
Prime Minister Manmohan Singh also lauded the nations for boosting global economic growth. ...
07:25 PM, Mar 27, 2013
The World Bank has welcomed the move by the BRICS countries to set up a development bank and vowed to work closely with the new lender. Finance ministers from the BRICS members (Brazil, Russia, India, China and South Africa) agreed on Tuesday to establish the bank to fund infrastructure in the five emerging economies, Chinese Finance Minister Lou Jiwei said in South Africa. ...
02:00 PM, Mar 27, 2013
The controversial Kudankulam Unit I of the atomic power reactor in Tamil Nadu will become operational by April, Prime Minister Manmohan Singh has said. He gave this assurance to Russian President Vladimir Putin when the two met here on Tuesday night on the sidelines of the BRICS summit. ...
12:41 PM, Mar 27, 2013
Finance Minister P Chidambaram stressed on need of BRICS development bank saying, "The bilateral funds that flow from the developed countries to the developing countries has declined. The existing multinational development banks and the regional banks are insufficiently capitalised," ...
11:22 AM, Mar 27, 2013
rime Minister Manmohan Singh is set to meet Chinese Premier Xi Jinping on Wednesday in Durban on the sidelines of the ongoing 5th BRICS Summit. This will be the first bilateral meeting between the two leaders after the recent change of leadership in China. The Prime Minister who is in South Africa for the two day conference is set to discuss macro economic stability. ...
08:00 AM, Mar 27, 2013
Finance ministers of Brazil, Russia, India, China and South Africa have agreed on a BRICS bank on the lines of the World Bank and the International on Monetary Fund (IMF) that will address the development needs of emerging and poor economies. ...
12:24 AM, Mar 27, 2013
Four concrete deliverables are expected at the 5th BRICS Summit at Durban March 26-26, 2013, that will take the process of the five-nation bloc forward to the next level, Indian officials said on Monday. ...
05:50 AM, Mar 26, 2013
Indian Prime Minister Manmohan Singh meets new Chinese President Xi Jingping on Wednesday, with both countries waiting for a new direction to bilateral ties that had seen some ups and downs in recent years, particularly over unresolved border tensions. ...
04:40 AM, Mar 26, 2013
Prime Minister Manmohan Singh on Monday arrived in South Africa on a four-day visit to attend the BRICS Summit that could launch a development bank for the five-nation grouping and discuss ways to reform governance in international financial institutions. ...
08:27 PM, Mar 25, 2013
Prime Minister Manmohan Singh left on a 4-day visit to Durban on Monday to attend the BRICS Summit, expressing the hope that ways to revive global growth and faster movement on reform of institutions of global, political and economic governance will be discussed at the meeting of the emerging economies. Accompanied by a high-power delegation including Finance Minister P Chidambaram and Commerce Minister Anand Sharma, Singh will attend the summit...
09:58 AM, Mar 25, 2013
Prime Minister Manmohan Singh leaves for Durban Monday for the 5th BRICS Summit over the next two days with the leaders of Brazil, Russia, China and South Africa. ...
05:52 PM, Mar 24, 2013
Russia wants the BRICS group of major emerging economies to broaden its role and get more involved in geopolitics, President Vladimir Putin said in an interview published on Friday. ...
05:20 AM, Mar 22, 2013
Ahead of their meeting later in March 2013 on the sidelines of the BRICS summit in Durban, newly-installed Chinese Premier Li Keqiang spoke to Indian Prime Minister Manmohan Singh on Friday and both expressed a desire to work together to boost bilateral ties. ...
04:15 AM, Mar 16, 2013
President Hu Jintao, who took a number of initiatives to put Sino-India ties on a fast track during his decade-long stint, retired on Thursday handing over the power to Xi Jinping, who is set to begin his engagement with Prime Minister Manmohan Singh by meeting him later in February. ...
03:07 AM, Mar 15, 2013
