Congress party chief Sonia Gandhi (L) and her son and vice-president of Congress Rahul Gandhi arrive to address a news conference in New Delhi May 16, 2014. REUTERS/Anindito Mukherjee
NEW DELHI (Reuters) - India's main opposition Congress party signalled on Monday it could support government legislation to liberalise the insurance industry, a long-delayed reform expected to help improve investor confidence.
Prime Minister Narendra Modi proposed in August to lift the cap on foreign investment in insurance ventures from 26 percent to 49 percent, but the opposition blocked the move in the upper house of parliament, where he lacks a majority.
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