IRDAI steps up initiative to provide technical assistance to the insurance markets of least developed countries

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Parshwa Turakhiya

22.10.2026

IRDAI steps up initiative to provide technical assistance to the insurance markets of least developed countries — IRDAI’s technical initiative

India’s insurance regulator is focusing on providing technical assistance to strengthen the institutional capacity of insurance markets in least developed countries. The initiative is designed to help representatives from these countries enhance their knowledge and skills across various aspects of insurance, based on their needs.

Highlights

IRDAI is expanding its initiative to provide need-based technical inputs to the insurance markets of least developed countries.
The latest technical assistance is aimed at improving market infrastructure, consumer protection, and long-term financial stability.
IRDAI believes that a strong insurance sector provides long-term capital for economic growth and infrastructure development.

This article was translated from the original. Read the original version by our correspondent here.

Scope of technical cooperation

According to the Insurance Regulatory and Development Authority of India, the initiative is designed to develop and strengthen insurance markets in the least developed countries. The regulator is providing representatives from these countries with need-based technical inputs to help them improve their understanding of various aspects of the insurance sector.

IRDAI was established as an autonomous body to regulate and develop the Indian insurance industry. After the sector was opened to private participation, it was incorporated as a statutory body in April 2000. Its key objectives include promoting the insurance sector and enhancing customer satisfaction by expanding consumer choice.

Economic growth and the sector’s importance

The regulator believes that a developed insurance sector is an important foundation for economic growth. Such a sector strengthens a country’s risk-bearing capacity and helps provide long-term capital for infrastructure development.

In this context, this model of technical assistance for least developed countries is not limited to regulatory training; it also supports the long-term stability and financial security of insurance markets. It is expected to promote market infrastructure, consumer protection, and capacity building in these economies.

Our previous report discussed the IMF’s increase in its growth forecast for India to 7% for FY27 and the prospect of 7% growth in FY28, while also referring to estimates for higher oil prices, inflation, and the current account deficit. The article also highlighted the importance of measures such as capital expenditure, investment in research and development, and stronger supply chains to maintain economic resilience amid global shocks.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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