8 months ago
AIIEA Conference Calls for Strengthening LIC, GIC
A big meeting of insurance workers in Bhubaneswar, Odisha, happened on January 1.
A famous economist, Prof Prabhat Patnaik, said that letting more foreign money into Indian insurance companies might not be good for India's growth.
The meeting had about 2,000 people.
They all agreed to work together to protect and make Indian insurance companies like LIC and GIC stronger.
They also said they will support a big strike on February 12 to protest against new rules that might make workers' rights weaker.
They also support another strike on January 9 for better pay in insurance companies.
The 27th general conference of AIIEA was held in Bhubaneswar, Odisha, on January 1.
Prof Prabhat Patnaik warned that increasing FDI in the insurance sector could undermine India's economic self-reliance.
The conference resolved to intensify campaigns for the protection and strengthening of public sector insurance companies like LIC and GIC.
Around 2,000 delegates and observers attended the conference.
The conference decided to support the national strike on February 12 against anti-worker labour codes and the strike on January 9 for wage revision in PSGI companies.
- Who
- All India Insurance Employees’ Association (AIIEA) and noted economist Prof Prabhat Patnaik
- What
- A conference calling for the strengthening of LIC and GIC, and opposing FDI increase in the insurance sector
- Where
- Bhubaneswar, Odisha
- When
- January 1, with a national strike planned for February 12
- Why
- To protect and strengthen the public sector insurance industry and oppose anti-worker labour codes
Key facts
- Event
- 27th general conference of All India Insurance Employees’ Association (AIIEA)
- Date
- January 1
- Location
- Bhubaneswar, Odisha
- Key Speaker
- Prof Prabhat Patnaik
- Attendees
- Around 2,000 delegates and observers
- Strike Date
- February 12
- Proposed Strike Date
- January 9
Quotes
Prof Prabhat Patnaik
Noted economist
“Increasing the limit of foreign direct investment (FDI) in insurance sector would undermine the India’s self-reliant economic development and speculative foreign capital would not contribute positively to India’s growth”
thehansindia.com
