India, Feb. 19 -- General Counsels (GCs) across corporate India would need to don a strategic business hat in addition to their legal and compliance role for companies to grasp the growth opportunities thrown up by India's Union Budget 2025.

The Budget proposes to raise the foreign direct investment (FDI) limit for the insurance sector from 74% to 100%. GCs for companies in the banking, financial services, and insurance (BSFI) sector would not only need to understand the implications of the suggested change, but also ensure implementation and enforcement of the objective of this change and ensure compliance with the new regulations and reporting requirements. In addition to the above, they will need to guide strategy in terms of appropri...