Government invoked names of cricket icons Sachin Tendulkar and Virat Kohli to bat in the Rajya Sabha for Insurance Bill, which provides for raising the foreign investment cap to 49 percent from 26 percent.
Drawing the imagery of popular game cricket, Minister of State for Finance Jayant Sinha hailed the Life Insurance Corporation as a “national champion” which can become a “global champion” like Tendulkar and Kohli.
“When Kohli and Tendulkar can compete around the world, why can’t LIC compete with companies from countries like Indonesia and Turkey,” he asked while seeking support of Rajya Sabha to the Insurance Bill.
Sachin Tendulkar, who himself is a member of the House, was not present when the debate took place.
Hailing LIC, he said the country is “very proud” of it as it has performed wonderfully.
He said the country needs, not just one LIC, but five to 10 LICs.