Previous StoryAfter proposing a development bank, the BRICS countries are preparing to strike out on their own in reinsurance as well. India has suggested to other BRICS members (Brazil, Russia, China and South Africa) that a reinsurer will cover large infrastructure projects that the emerging economies are focused on and counter sanctions imposed by western countries such as those related to Iran, which is a key oil supplier to India and other countries.
Next StoryThe Supreme Court of India has held that a “rebate of tax” granted by the UP government only to cement manufacturing firms functioning within the state was discriminatory and violated the Constitution.
