By Hira Sadhak
Existence coverage in India: possibilities, demanding situations and Strategic standpoint is the 1st publication on existence coverage within the present context of globalization and fiscal reforms and lines the interdependence of existence assurance and macro fiscal components. It makes a speciality of structural switch, marketplace power and rising demanding situations for the Indian existence coverage and in addition covers the worldwide lifestyles assurance undefined, regulatory regime, and marketplace pleasant practices in another country. therefore it offers a robust perception into rising traits within the existence coverage as a complete.
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Extra info for Life Insurance In India: Opportunities, Challenges and Strategic Perspective (Response Books)
1 that there was manifold increase in Indian exports and imports. While exports in US dollar (million) increased from US$ 18,477 in 1990 to US$ 80,831 in 2004–05. 1). India has also achieved higher growth in exports compared to developing countries as a whole as well as the world growth rate in 2004. 5 per cent. 6 per cent of world growth. 2). 5 per cent growth in exports in 2004. 7 100 Source Economic Survey (2004–05). 2). 2 per cent during the same period. Merchandize Trade The growth and expansion of India’s merchandize trade is an indication of India’s global integration and openness.
This observation is consistent with the notion that indirect benefits of financial integration which may be difficult to pick up in regression analysis, could be quite important. Globalization of Indian Economy It has been observed that the current world has absorbed the wave of globalization and countries are increasingly getting integrated with the world market through free trade, removal of domestic restrictions on capital movement and switching over to market determined exchange rates. In 1980s, India initiated a move towards closer integration of Indian economy with the global market by removing many restrictions.
Hence, life insurance companies not only grow by themselves but also stimulate long-term savings in a country to support economic growth. It has been observed that efficiency in capital accumulation and transfer in the economy depends on the improved efficiency of intermediaries like life insurance. It is evident that insurance savings constitute a relatively high position in household portfolios in many countries. 3). 4 per cent of household financial assets in 2004–05 (Reserve Bank of India, Annual Report 2004–05).