The Competition Commission has approved British insurer Standard Life's additional stake purchase in its Indian insurance joint venture HDFC Life.
The British firm would be increasing its stake to 35 per cent from 26 per cent as the Indian government has allowed up to 49 per cent FDI in the domestic insurance sector.
In a tweet, Competition Commission of India (CCI) said it has approved "increase of Standard Life (Mauritius) Holdings 2006 Ltd's stake from 26 per cent to 35 per cent in existing joint venture co, HDFC Life".