Govt to come out with revised FDI policy to facilitate LIC IPO

The government will come out with a revised foreign direct investment (FDI) policy to facilitate disinvestment of the country’s largest insurer, Life Insurance Corporation (LIC).

A top government official confirmed to news agency PTI that the commerce and industry ministry is making changes to FDI policy for LIC disinvestment after taking views from the finance ministry.

Anurag Jain, a 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 that’s why it needs a revision.