Armaan Jain, Devanshi Gupta, Krishraj Kukreja, Naman Gopalka,Udai Singh
Student , SVKMs Narsee Monjee Institute of Management Studies Deemed to be University, Bengaluru
Abstract
By this study we are trying to address how the insurance sector can help boost Indias economy by 2-fold. From a 2.7 trillion dollars to a 5 trillion-dollar economy in a few years, with the support of the government, private and public organizations and companies This sector is often overlooked when the topic of contribution to GDP is brought up. Through this paper we want to inform and spread out about the significance of insurance in developing various aspects of the country which can help flourish the GDP and the economy as a whole. To analyses the insurance growth trend and potential growth. To inform about the multiplier effect of the insurance sector on Indias GDP. Primary data has been collected by conducting surveys, interviewing people relevant to the insurance sector. Data has been collected from journals, articles, newsletter of Insurance Institute of India, etc. The study period is 2022. From the above analysis we can observe that trend percentages are increasing, so we can conclude it is improving year to year and but still India has less density percentage in the world wide. There is need to penetrate into rural areas in a big way since huge market potential lies in rural India
Keywords: GDP , Insurance, Indias economy,
Journal Name :
EPRA International Journal of Multidisciplinary Research (IJMR)

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Published on : 2022-11-19

Vol : 8
Issue : 11
Month : November
Year : 2022
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