Can a foreign company sell health insurance in India?

Q: Does a foreign insurer require an Indian partner to obtain a license to sell health insurance in India?

A:No foreign company can sell health insurance in India unless they have a tie up with an Indian company which holds at least 74% stake in the joint venture. Once a company is thus formed, it needs to acquire a license from IRDA (the insurance regulator) file with IRDA the product it intends to sell in the market and once the approvals are in place they can then approach Indian customers to buy their product.