More Reforms Expected to Boost India's Flagging Economy

India has made plans to open the doors to foreign investors in there multibillion dollar insurance premium and pension industries.  Currently investors are only allowed to invest up to a capped 26% for the insurance and it's closed completely to foreigners for the pensions.  They are also planning on making a way for people to report their earnings online, but want to be sure to establish an oversight committee to be sure it will be running legally and smoothly.  Other proposals are for the Indian government to come to an agreence on allowing companies such as Wal-mart enter their goods market.  There is a little controversy over this topic and the results could be the look more down then up.

Wal-mart is a multibrand retail industry that some have praised, and others have protested against.  While India is proposing the idea of wal-mart, there are good points that keep the fight to keep them out acceptable.  One anti-walmart activist proclaims that large retailers such as wal-mart just aren't good for small scale economies.  "Large-scale retailers had a devastating affect on small shopkeepers, workers, farmers and consumers in developing and developed countries. We are working against the relaxation of foreign direct investment without any protection to smaller communities. In Thailand, due to tremendous easing of foreign direct investment norms, 60,000 small traders were forced to shut shop. We fear the same will happen in India if big retailers come here." http://www.rediff.com/money/2007/apr/23inter1.htm

But speaking on the terms of these pension and insurance plans will benefit a lot of people who are working abroad, in particular women.  These investments are meant to help people to save money when they plan on returning to India to retire.  About 20% of the people working abroad are women and they are usually paid less than men, so this will deem to be a big help for the female Indian population. http://www.pancardnri.com/blog/how-to-invest-in-pension-life-insurance-fund-in-india-plif-for-nris



http://india.blogs.nytimes.com/2012/10/04/more-reforms-expected-to-boost-indias-flagging-economy/