The case for overseas direct investment (ODI) rests on permitting Indian entrepreneurs to exploit avenues for profitable investment abroad. With this in view, we have progressively liberalized the regulatory regime for ODI. But as in case of any investment, ODI must also yield returns over time.
The Geneva Association, in its paper titled – The Social and Economic Value of Insurance – explains that: “Insurance should be perceived not only as a protection mechanism, but more importantly as a partnership  1  that allows individuals and businesses to spread their wings and go where they might otherwise not have dared to go.” The paper further highlights insurance as a mechanism for: •  reducing and mitigating risk – supporting citizens and social protection systems;  •  promoting financial stability and economic growth; and  •  advancing the development of financial services.