Finance Minister Nirmala Sitharaman raised FDI in insurance sector to 74 percent from 49 percent in her latest Budget. How does this help exactly? Experts believe FDI hike will make insurance more competitive. Companies could get access to much-needed funds from foreign partners to invest in technology and digital sales. Also, with a majority stake, foreign partners may be more willing to share technology aiding better penetration. It's good news for customers as well, as cost of products could fall. However, what needs to be seen is the time taken to implement the reform. The last time FDI limit was raised in 2015, to 49 percent from 26 percent, it took seven years to get approved by Parliament.