The former Union Finance Minister P. Chidambaram on Thursday welcomed the introduction of the Insurance Amendment Bill in Parliament and said each government should build on what had been accomplished by previous governments. In a statement, the senior Congress leader said a “tortuous” journey of two years had reached a crucial milestone. Highlighting two other developments, he said the UPA government facilitated e-commerce and allowed FDI in e-commerce. Flipkart, an Indian company, had brought in $1.7 billion of risk capital. Amazon, a U.S. company, had announced its intention to invest $2 billion in India.
International Coal Ventures Ltd. was formed during the tenure of the UPA government, he said.
