Vice President M. Venkaiah Naidu on Sunday said the insurance industry in India was expected to grow from $84.72 billion in 2017 to $280 billion by 2020 as the country was poised for higher economic growth.
Speaking at the valedictory session of the 4th South Asian Insurance Regulatory Meet and International Insurance Conference here, he said investments made by insurance companies in various sectors amounted to ₹30. 76 lakh crore by the end of 2016-17, of which over ₹2.40 lakh crore was in the infrastructure sector.