India’s insurance penetration lower than world average: Report

October 6th, 2009 NEW DELHI - There has been an 80 percent increase in India's scientific research output since 2000, a news study revealed Tuesday, forecasting that the country will overtake all other countries between 2015 to 2020. The study carried out by British firm Thomson Reuters that owns the news agency Reuters was released in Delhi Tuesday.

September 7th, 2009 NEW DELHI - India's economic growth is forecast to slip to 5 percent in 2009 from 7 percent during the previous calendar year, even as the world output is slated to decline by 2.7 percent, said a report released by a UN agency Monday. "Since domestic demand accounts for a large and increasing share of total demand, South Asia, particularly India, is expected to see continued growth in 2009," said the annual Trade and Development Report of the United Nations Conference on Trade and Development (Unctad).

September 2nd, 2009 NEW DELHI - India's per capita green house gas (GHG) emission, the main cause of global warming, continues to be less than the global average and even in 2031 it will be below the world average of 2005, the environment and forest ministry asserted Wednesday. As per the estimates of the five different studies, Indias per capita GHG emissions in 2030-31 would be between 2.77 tonnes and five tonnes of carbon dioxide equivalent (CO2e).

September 1st, 2009 NEW DELHI - India's merchandise exports fell for the 10th straight month in July and were valued 28.4 percent lower at $13.62 billion against $19.04 billion during the corresponding month last year, latest trade data showed Tuesday. Cumulative value of exports for the first four months of this fiscal (April-July) was $49.65 billion - 34.1 percent lower than the $75.29 billion that was logged during the year-ago period, as per the data released by the commerce ministry.

July 30th, 2009 NEW DELHI - India's annual rate of inflation fell marginally to minus 1.54 percent for the week ending July 18 from minus 1.17 the week before, according to official data released here Thursday. The rate turned negative for the week ended June 6 for the first time since the new wholesale price index (WPI) series started in 1995.

July 14th, 2009 Analyst: P&G may seek to buy beauty-care companyCINCINNATI — An analyst says Shiseido Co. and Estee Lauder Cos.

July 7th, 2009 Singapore warns Asia to expect lower growthSINGAPORE — Singapore's finance minister warned Asia to expect lower economic growth for years to come as a weakened U.S. consumer buys less of the region's exports.

July 6th, 2009 NEW DELHI - Finance Minister Pranab Mukherjee Monday revived the government's divestment programme, promising equity of state-run enterprises in the hands of general public. He also said that in areas like banking and insurance, specifically, the majority control in state-run companies would remain in the hands of the government with fresh infusion of equity to help them remain globally competitive.

July 2nd, 2009 CHENNAI - Life insurance penetration in India dipped in 2007, first time since the sector was opened up for private players a decade ago, said the country's Economic Survey for 2008-09 released here Thursday. "The life insurance penetration in India increased from 1.77 percent in 2000 to 4.1 percent in 2006, before declining to 4 percent in 2007," the survey tabled in parliament by Finance Minister Pranab Mukherjee said.

July 1st, 2009 NEW DELHI - India's merchandise exports continued to suffer a setback this fiscal to register a decline for the second straight month with the value of shipments 29.2 percent lower at $11.01 billion in May over the same month of last fiscal. Merchandise exports had dipped 33.2 percent to $10.74 billion in April, while in May last year, they were valued at $15.55 billion, as per latest data on foreign trade released here Wednesday by the commerce and industry ministry.

June 17th, 2009 Survey: The old and poor sign up for broadbandNEW YORK — Some groups that have lagged in signing up for high-speed Internet service, like the elderly, the poor and rural residents, have started to gain on those who have had a head start, according to a new survey. Those conclusions come as the government is set to decide how to spend $7.2 billion in stimulus money on expanding the availability of broadband.

April 26th, 2009 NEW DELHI - India, whose agricultural productivity is 35-50 percent lower than the world average, requires more private participation and investment in agricultural research and development (R&D), an industry lobby has said. 'India's, agricultural productivity is between 35-50 percent below the world average.

February 5th, 2009 CHENNAI - The Hyderabad-based Dawn Services, the first third party administrator (TPA) to be licensed by the Indian insurance watchdog, has decided to exit the business. According to Insurance Regulatory Development Authority (IRDA), the TPA licence to Dawn Services has not been renewed upon request.

January 1st, 2009 CHENNAI - India's insurance watchdog Friday offered life insurers, and more particularly the private life insurers, a mega New Year gift by easing solvency norms for the third time in recent days. Solvency margin is the excess of assets that a life insurer has to maintain over its liabilities.

December 30th, 2008 CHENNAI - The restructuring initiatives at the city based non-life major United India Insurance Company Ltd are progressing at a good pace, said a top company official Wednesday. 'On the advice of Boston Consulting Group (BCG), we are creating business verticals, setting up exclusive centralised offices for faster claims settlement,' G.