India one of the fastest-growing insurance markets in the world: Economic Survey

Important government interventions and a conducive regulatory environment have supported the growth of the insurance market, which has seen increasing partnerships, product innovations, and vibrant distribution channels.

India one of the fastest-growing insurance markets in the world: Economic Survey

India is one of the fastest-growing insurance markets in the world and is expected to emerge as one of the top six insurance markets by 2032, according to the Economic Survey 2022-23 that was presented in the Parliament on Tuesday.

Digitisation of India's insurance market, accompanied by an increase in FDI limit for insurance companies, is likely to facilitate an increased flow of long-term capital, a global technology, processes, and international best practices, which will support the growth of India's insurance sector.