India is likely to block Chinese investment in insurance giant LIC's IPO, say sources - NewsBreak
By Olachi in Business
Updated 3 years ago
India wants to block Chinese investors from buying shares in Indian insurance giant Life Insurance Corp (LIC) which is due to go public, according to government sources. State-owned LIC is considered a strategic asset, commanding more than 60% of India's life insurance market with assets of more than $500 billion.