• Max Life Insurance - Compare & Buy Policies Online To Secure Your Family

    Life Insurance
    • Premiums as low as Rs.17/day for sum assured of Rs.1 crore*
    • Claim up to Rs. 1,50,000 deduction under section 80C**
    • Choose between annual and monthly premium payment options

    Max Life Insurance is one of the top private life insurers in India. The company has the reputation of being a top insurance company that isn’t affiliated to and promoted by any of the major banks in the country. With the help of its diverse range of products, the company has managed to gain a foothold in different parts of the country. The company offers various products including term plans, savings plans, retirement plans, child plans, group plans, etc. If you are looking for a life insurance plan, you must take a look at the plans offered by Max Life Insurance before coming to a final decision.

    Highlights of Max Life Insurance Updated on 20 Sep 2019

    Percentage of Grievances Solved 100%
    Claim Settlement Ratio 98.26%
    Group Death Claims 99.35%
    Percentage of Claims Rejected 0.65%
    Solvency Ratio 3.09 (for the quarter ended March 2018)

    Products and Services offered by Max Life Insurance:

    Max Life Insurance?offers plenty of products and services for the Indian market. These plans range from savings, protection, and retirement plans. Mentioned below are all the products the company has on offer:

    Online Term Insurance Plans Protection Plans Child Plans Retirement Plans Growth Plans Savings Plans Group Plans
    Max Life Online Term Plan Plus Basic Life Cover Max Life Cancer Insurance Plan Max Life Future Genius Education Plan Max Life Forever Young Pension Plan Max Life Fast Track Super Plan Max Life Guaranteed Income Plan Max Life Group Term Life Platinum Assurance Plan
    Max Life Online Term Plan Plus Life Cover + Monthly Income Max Life Super Term Plan Max Life Shiksha Plus Super Plan Max Life Guaranteed Lifetime Income Plan Max Life Platinum Wealth Plan Max Life Whole Life Super Savings Plan Max Life Group Gratuity Premier Plan
    Max Life Online Term Plan Plus Life Cover + Increasing Monthly Income Max Life Premium Return Protection Plan Max Life Perfect Partner Super Plan Max Life Maxis Super Plan Max Life Life Gain Premier Max Life Group Super Life Premier in Lieu of EDLI
    Max Life Monthly Income Advantage Plan Max Life Group Super Life Premier
    Max Life Savings Advantage Plan Max Life Group Credit Life Secure
    Max Life POS Guaranteed Benefit Plan Max Life Pradhan Mantri Jeevan Jyoti Bima Yojana
    Max Life Assured Wealth Plan Max Life Group Credit Life Premier

     

    Max Life Online Term Insurance Plans:

    These plans offer coverage for individuals for a specific period of time and provide lump sum payment to the beneficiaries in case a policyholder meets an untimely demise. Term plans offered by Max Life has three distinct death benefit offers to choose from. Here’s a list of all the products the company has:

    • Max Life Online Term Plan Plus Basic Life Cover
    • Max Life Online Term Plan Plus Life Cover + Monthly Income
    • Max Life Online Term Plan Plus Life Cover + Increasing Monthly Income

    Max Life Protection Plans:

    Protection plans are those which offer coverage against death, disability, and diseases so that a policyholder’s family can live a financially secure life in case he/she dies. Max Life offers the following protection plans for prospective customers:

    • Max Life Cancer Insurance Plan
    • Max Life Super Term Plan
    • Max Life Premium Return Protection Plan

    Max Life Child Plans:

    Child plans offer individuals an opportunity to save for their children’s future. These plans help policyholders save a vast sum of money for their children’s education, marriage, and any other major expense a parent might incur when bringing up a child. Here’s a list of all the child plans offered by Max Life:

    • Max Life Future Genius Education Plan
    • Max Life Shiksha Plus Super Plan

    Max Life Retirement Plans:

    Retirement plans help individuals save for their own future and to set up up a corpus which they can use post their retirement. Max Life offers the following retirement plans for prospective customers:

    • Max Life Forever Young Pension Plan
    • Max Life Guaranteed Lifetime Income Plan
    • Max Life Perfect Partner Super Plan

    Max Life Growth Plans:

    Growth plans are those which help individuals increase their wealth through calculated investments. These plans are typically ULIPs, meaning the returns a policyholder receives is a result of their indirect investment in mutual funds. They are termed as an indirect investment because pumping the money into the stock market is done by company-appointed fund managers. Here’s all the growth plans the company has on offer:

    • Max Life Fast Track Super Plan
    • Max Life Platinum Wealth Plan
    • Max Life Maxis Super Plan

    Max Life Savings Plans:

    Savings plans help policyholders save for their future and also offers life cover apart from returning the premiums paid with interest. Plans offered by Max Life under this category include:

    • Max Life Guaranteed Income Plan
    • Max Life Whole Life Super Savings Plan
    • Max Life Life Gain Premier
    • Max Life Monthly Income Advantage Plan
    • Max Life Future Secure ii Plan
    • Max Life Savings Advantage Plan
    • Max Life POS Guaranteed Benefit Plan
    • Max Life Assured Wealth Plan

    Max Life Group Plans:

    Group plans are primarily offered to employment organisations which are required by law to provide a number of benefits to their employees. These benefits range from gratuity, leave encashment, annuation, and the like. Here’s a list of group plans Max Life offers:

    • Max Life Group Term Life Platinum Assurance Plan
    • Max Life Group Gratuity Premier Plan
    • Max Life Group Super Life Premier in Lieu of EDLI
    • Max Life Group Super Life Premier
    • Max Life Group Credit Life Secure
    • Max Life Pradhan Mantri Jeevan Jyoti Bima Yojana
    • Max Life Group Credit Life Premier

    Company Offices - Where you can find Max Life Insurance?

    Max Life Insurance has presence across all the states in the country through its own offices and partnered offices in the form of AXIS Bank. Here’s a list of offices from some major cities and states:

    State City No. of offices Contact
    Andhra Pradesh Vijayawada 1 1860 120 5577
    Tirupati 1 1860 120 5577
    Vizag 1 1860 120 5577
    Gujarat Ahmedabad 5 1860 120 5577
    Gandhinagar 1 1860 120 5577
    Surat 3 1860 120 5577
    Delhi Delhi 16 1860 120 5577
    Haryana Gurugram 3 1860 120 5577
    Karnataka Bangalore 5 1860 120 5577
    Mysore 1 1860 120 5577
    Kerala Kochi 1 1860 120 5577
    Calicut 1 1860 120 5577
    Madhya Pradesh Bhopal 1 1860 120 5577
    Indore 2 1860 120 5577
    Maharashtra Mumbai 13 1860 120 5577
    Pune 4 1860 120 5577
    Nagpur 2 1860 120 5577
    Orissa Bhubaneswar 2 1860 120 5577
    Cuttack 1 1860 120 5577
    Punjab Amritsar 1 1860 120 5577
    Jalandhar 1 1860 120 5577
    Rajasthan Jaipur 2 1860 120 5577
    Jodhpur 1 1860 120 5577
    Udaipur 1 1860 120 5577
    Tamil Nadu Chennai 5 1860 120 5577
    Coimbatore 2 1860 120 5577
    Erode 1 1860 120 5577
    Telangana Hyderabad 1 1860 120 5577
    Warangal 1 1860 120 5577
    Uttar Pradesh Lucknow 3 1860 120 5577
    Noida 2 1860 120 5577
    Ghaziabad 2 1860 120 5577
    West Bengal Kolkata 2 1860 120 5577
    Asansol 1 1860 120 5577

    *The helpline number can be contacted everyday from Monday to Saturday (except on national holidays) between 9.00 a.m. and 6.00 p.m.

    Max life Insurance Market Share:

    Based on the data released by Max Life Insurance for the year 2014-15, the company ranks fourth amongst private insurer in the country and has a market share of 9.7%. In money terms, the firm has a gross written premium of Rs.8,172 crores with sum assured Rs.2,26,701 crores.

     

    • Awards won by Max Life Insurance:

      According to the annual report released by the IRDAI, Max Life Insurance has the industry best claims paid ratio for the fiscal year 2017-18, surpassing India’s largest life insurer LIC. This is an important milestone for the company, which has posted an individual death claims paid ratio of 98.26% for the FY2017-18. During this fiscal year, LIC has settled 7.25 lakh claims out of the total industry settlement of 8.28 lakh claims. The claims paid ratio of LIC for this fiscal year stood at 98.04%.

      Max Life Insurance has won a number of awards for its contribution to the insurance industry. Here’s all the awards the company has bagged so far:

      • IAMAI Award 2018 for the Best Email Marketing Campaign
      • Effie Award 2018 for Communication Effectiveness
      • Winner in two categories at the 29th QUALTECH Prize Competition, 2017
      • Compliance 10/10 Award for its Compliance Programme in 2015
      • World Finance Best Insurance Company for the year 2015
      • India’s Most Trusted Brand 2015 - Indian Insurance Awards
      • Ranked First in claim settlements for 2015
      • Best Finance Company by Global Finance 2014
      • Superbrand of the year 2013-14
      • Golden Peacock Award for innovation for its Max Vijay product
      • Asia Insurance Industry Innovation of the Year 2009
      • Indo American Corporate Excellence Award in Financial Services category for 2006.

    Max Life Insurance - Board of Directors and Shareholding pattern:

    Max Life has a number of esteemed individuals who are at the helm and have led the company towards constant growth. Here’s a list of all the key members from the management team:

    • Rajesh Sud - Executive Vice Chairman and Managing Director
    • Prashant Tripathy - Senior Director and Chief Financial Officer
    • V.Viswanand - Senior Director and Chief Operations Officer
    • Alok Ban - Director and Chief Distribution Officer
    • Amitabh Lal Das - Director and Head - Legal, Compliance, and Regulatory Affairs
    • Mihir Vohra - Director and Chief Investment Officer
    • Shailesh Singh - Director and Chief People Officer
    • Manik Nangia - Director Marketing and Chief Digital Officer
    • Jose John - Director and Appointed Actuary

    Share holding pattern of the company:

    Max Financial Services is the majority shareholder of the company with 72.1% stake, while the rest of the 27.9% shares are held by Mitsui Sumitomo Insurance Co. Ltd and other players.

    Claim Settlement Ratio:

    As per the data released by IRDAI, here’s the company’s claim settlement ratio for the year 2017-18:

    No. of claims received No. of claims approved Claim settlement percentage Average time taken Percentage of claims rejected
    9,821 9,606 97.81% 5 Calendar days 2.16%

    While the aforementioned table lists out claims for 2016-17, below is another table which will provide details of the settlement ratio from 2014-15 to 2017-18

    Year 2014-15 2015-16 2016-17 2017-18
    Claim settlement percentage 96.0% 97.9% 97.8% 98.26%

    How to Settle a Life Insurance Claim with Max Life Insurance - Claim Documentation and Process:

    Max Life Insurance has a robust claim settlement process, every claimant needs to follow to have their claims settled. Here’s a list of all the steps:

    • Step 1: Registering the claim

      To have a claim settled a claimant must first register the claim with the company. Registering the claim requires the individuals to fill the relevant application forms depending on the type of claim being made i.e., death claim, health claim, group claim, and cancer claim. Each of these forms require a different set of documents to be submitted. Listed below are all the documents that are required:

    • For life claims:
      1. Original policy document
      2. Attested and original copy of death certificate provided by the local municipal body
      3. Fully filled death claim from
      4. Photo ID and address proof of the nominee such as passport, Aadhaar card, PAN card, or voter ID
      5. NEFT mandate form with cancelled cheques and bank passbook
      6. Other supplementary documents required include attending physician’s statement (Form C) in case of medical/natural death along with medical records such as test results, treatment and death summary
      7. In case of accidental and unnatural death, a copy of the FIR, police complaint or police panchnama should be furnished along with a copy of post mortem report (PMR), Final Police Investigation Report (FPIR), charge sheet, and autopsy report
    • For health claims:
      1. Application form for health claim
      2. Statement from the attending physician
      3. Copies of all the medical records
      4. NEFT mandate form
    • For group claims:
      1. Claim form depending on the type of claim being made i.e., gratuity, GTL employer employee, or EDLI
      2. Attested and original copies of death certificate issued by local municipal body
      3. Claim form with regards to lender borrower/non-lender borrower
      4. NEFT mandate form attested by banks and cancelled passbook and cheque
      5. Other supplementary documents required include attending physician’s statement (Form C) in case of medical/natural death along with medical records such as test results, treatment and death summary
      6. In case of accidental and unnatural death, a copy of the FIR, police complaint or police panchnama should be furnished along with a copy of post mortem report (PMR), Final Police Investigation Report (FPIR), charge sheet, and autopsy report

    News Related to Life Insurance

    • Max Life Insurance Reported Hike in Individual Death Claims Paid Ratio for FY 2018-19

      For the financial year 2018-19, Max Life Insurance, India’s most reputed private life insurance companies reported a total hike in the individual death claims. The figure rose to a stupendous 98.74%. The claim settlement ration (CSR) is one of the primary elements that people take into consideration while purchasing a life insurance policy. It is basically an indicator of the number of claims that the company has settled. Higher the CSR, better the chances of the claim amount being paid by the insurer. The total amount of claims that Max Life Insurance has paid during the FY 2018-19 stands at Rs.452 crore. Mr. Manik Nangia, Senior Director and Chief Operations Officer of Max Life Insurance commented on the issue saying, ‘We truly believe that ‘Claims Paid Ratio’ is the ultimate manifestation of a life insurer’s commitment towards its customers and overall reliability’. He further said that ‘Our strong position in paying claims is a validation which we hope to further leverage by investing in underwriting capabilities, technological intervention and building an overall robust claims ecosystem.’ In a country like ours, where life insurance uptake is still fairly poor, high-grade claims paid ratio helps provide the right assurance to customers and their families against future uncertainties thereby encouraging them to buy pure protection life insurance’.

      23 July 2019

    • Max Life Insurance launches new financial protection tool – My Protection Quotient

      My Protection Quotient (MyPQ), a new financial protection tool, has been launched by Max Life Insurance Co. Ltd. It is a smart tool that measures how much financial protection an individual has and promotes awareness of term plans in protecting the future of families. It will guide customers in choosing the right financial product that suits their financial goals and budget. The tool will do this through a set of questions that will uncover their awareness about life insurance products, how prepared they are for any financial responsibilities, and existing life insurance coverage, if any. The final output is a quotient that is on a scale of 100. A reasonable quotient would be in the range of 75 to 100 while 0 to 25 would indicate a poor financial awareness and preparedness for any of life’s eventualities. Through this, customers will get to know where they need to fill in the gaps in their financial preparedness and what needs to be upgraded if they already have a plan in place. The 6th of every month has been dedicated as ‘Protection Day’. Max Life Insurance aims to provide life insurance products that offers risk protection with achievement of life goals.

      7 July 2019

    • IRDAI’s new sandbox regulations will see Max Life innovate

      Max Life Insurance’s deputy managing director V Viswanand said the new sandbox regulation, the Insurance Regulatory and Development Authority (IRDA) is looking to implement may allow the insurance company to innovate and help other insurer’s come up with new ideas and experiment with products before launching them to the market.

      One of the ideas kept forth by the insurance company was to give a premium holiday to its customers after five years which would allow them to grapple with the after effects of losing a job or other financial tensions that they may face. However, the current rule clearly states that the policyholder must pay premiums in order to enjoy the benefits of its insurance plan.

      24 April 2019

    • Mr. Aalok Bhan appointed as the Director and Chief Marketing Officer of Max Life Insurance

      Max Life Insurance has recently announced that it has appointed Mr. Aalok Bhan as its Director and Chief Marketing Officer. Mr. Bhan will be in charge of overseeing Max Life’s corporate communication, branding, and product operations with the objective of strengthening the company’s marketing endeavours, brand positioning, and product design strategies.

      He will be based out of Max Life Insurance’s corporate office, which is located in Gurugram, and will report to Mr. Prashant Tripathy, who is the MD and CEO of Max Life Insurance.

      Mr. Bhan joined the Executive Management Committee of Max Life Insurance in 2012. After serving as the Head of Products, Customer Marketing, and Corporate Communications, he took on the role of Chief Distribution Officer at Max Life Insurance in October 2016. Under him, the company’s distribution footprint expanded exponentially across the country.

      Before joining Max Life Insurance, Mr. Bhan was employed as the CEO and MD of Dresdner Bank AG, India. He established FAB Advisors in the year 2009. He has also served ABN Amro, Royal Bank of Scotland, and Standard Chartered Bank in various capacities in the past.

      30 January 2019

    • Max Life to pay claims worth up to Rs.50 lakh in just 1 day through its ‘InstaClaim’ feature

      Renowned private life insurer Max Life Insurance has launched a new claim settlement feature called ‘InstaClaim’. Under this new initiative, the company promises to disburse claims worth up to Rs.50 lakh in a single day. This is subject to the condition that all the mandatory documents are received by the company.

      The company noted that death benefit claims are eligible for InstaClaim benefit as long as the policy is in force for three continuous years. The company has one of the best claim settlement ratios in the private life insurance industry. For the fiscal year 2017-18, the company’s claim settlement ratio improved to 98.26% from 97.81% in the previous year.

      The company also noted that a dedicated officer will be assigned for each claim to help policyholders and ensure a hassle-free claim settlement process. High claim settlement ratio provides assurance that the company will protect the families of its customers in the case of any unexpected eventualities.

      25 January 2019

    • Max Life Insurance has the highest claims paid ratio in the life insurance industry

      The IRDAI report released recently has revealed that Max Life Insurance has the highest claims paid ratio for the fiscal year 2017-18. The company’s claims paid ratio for this period stood at 98.26%. During this period, the company received a total of 10,330 death claims from its consumers. After repudiating 178 claims, the remaining 10,152 claims were paid by the company.

      One of the notable achievements of this period is that the company’s claims paid ratio has outperformed India’s largest life insurer LIC. LIC took the second position with a claim paid ratio of 98.04%. During this period, the overall industry average stood at 97.68%.

      The company attributed this success to its two-pronged strategy, which involves leveraging technology and strengthening its customer on-boarding process. The company also noted that it has taken effective measures to weed out fraudulent claims.

      15 November 2018

    • Max Financial Services announces 18% growth in Q2 revenues

      Max Financial Services (MFS) announced its financial results for the second quarter of the current fiscal year. The company has reported an 18% growth in consolidated revenues to Rs.4,075 crore. The company’s profit after tax declined 22% to Rs.53 crore owing to one-time expenses associated with various factors like product shift mix, a higher proportion of protection sales, and the attempted acquisition of IDBI Federal Life.

      Shareholders’ profit after tax for the second quarter increased 42% to Rs.185 crore compared to the same period of last year. Assets under management for the second quarter stood at Rs.56,070 crore, up 17% from the same period of previous year.

      MFS is the holding company of Max Life Insurance. Max Life is the largest non-bank owned life insurance company in India. The company is also one of the top 5 asset management companies in India.

      15 November 2018

    • Rahul Talwar appointed as SVP and head-marketing by Max Life Insurance

      Rahul Talwar has been appointed as the Senior Vice President and Head-Marketing of Max Life Insurance. Talwar will be based in Gurugram and will report to Manik Nangia who is the Chief Digital Officer and Director-Marketing of the insurance company.

      Talwar will lead the insurance company’s marketing and brand activities and will accelerate the company’s journey across all touchpoints in India.

      Rahul Talwar has over 14 years of experience in the FMCG sector and he will join Max Life Insurance Company in his new role after having previously worked at McVitie’s where he took care of the marketing function for South Asia and India. Talwar has also worked for Pepsico and Aditya Birla Group.

      24 October 2018

    • Vice President and Managing Director of Max Life Insurance Steps Down

      In a recent development, Mr. Rajesh Sud, the Vice Chairman and Managing Director of Max Life Insurance, has stepped down from his position. Mr. Prashant Tripathy, the present Chief Financial Officer of Max Life Insurance, will be taking over Mr. Sud’s position next year. Mr. Sud was one of the founding members of Max Life Insurance and took over as Max Life Insurance’s CEO and MD in the year 2008. During his employment with Max Life, the company underwent rapid transformation and grew to become the fourth biggest private-sector life insurance company. To this end, Mr. Rahil Khosla, the Chairman of Max Life Insurance, said that Mr. Sud built a high-quality institution and a talented team. He added that Mr. Tripathy’s promotion was in line with the internal succession preference and in recognition of the company’s leadership team.

      04 October 2018

    • Max Life Insurance improves its death payout ratio

      For the fourth year running, Max Life Insurance improved its death claims ratio and according to the Insurance Regulatory Development Authority of India, the death claim ratio of one of India’s largest life insurers was at 98.26%. According to the Life Insurer, the death claims touched Rs.353 crore for FY 2017-2018. In FY 2016-2017, the company registered a de. th claims ratio of 97.81%. According to the director of Max Life Insurance, Vishwanand, In line with Max Life Insurance’s vision, mission and values we have aimed at our claims philosophy to be the “fairest, fastest and friendliest” as an important pillar of TCF – Treat Customer Fairly. Through a dedicated claims officer, we also provide guidance to help claimants through hassle-free claims process. In a country which has low protection penetration, high claims paid ratio provides the assurance to life insurance customers that their families will be safe in case of any eventuality and thus encourages them to opt for pure protection products. The company is making use of high-tech softwares to settle death claims, while using a predictive analytic model which checks frauds as well

      20 September 2018

    • Max Life introduces Savings Advantage Plan

      Max Life Insurance has launched an all-new insurance plan named Savings Advantage Plan that has a host of benefits and is flexible in terms of the options available under the policy. Policyholders can choose the policy term and premium payment mode depending on their savings philosophy. This plan helps individuals achieve their short-term, medium-term, and long-term savings goals. Also, policyholders can decide whether the death benefit or maturity benefit should be paid as a lump sum or as annual/monthly installments. Additionally, on maturity of the policy each year, 5.5% of the sum assured is provided to the person. And a step-up death benefit is provided after completion of 10 years of the policy term. A superior maturity benefit equal to 110% of the sum assured of the policy is provided on maturity of the policy. This flexible life insurance plan helps people plan and make good amounts of savings.

      23 August 2018

    • Max Life Insurance boasts of having the most loyal customer base

      In an independent survey conducted by Kantar IMRB, Max Life Insurance, one of the leading insurance companies in India has been ranked first in having the most loyal customer base. According to the survey, the insurance company has more than 77% of its customers who are loyal to the insurance company and has jumped from the 6th position it held last year to become the number one ranked insurance company to have the most loyal customer base. The data for this survey was collected with more than 7,000 customers from 15 cities contributing during the first quarter of the year 2018.

      17 August 2018

    • Increase in Consolidated Net Profit for Max Financial Services in 2016-17 Recorded at 57%

      Max Financial Services revealed its consolidated net profit for FY 2016-17, showing an increase of Rs.396 crore which was a 57% increase in comparison with the previous year. For FY 2016-17, the sole operating subsidiary of Max Financial Services Limited, Max Life Insurance showed a profit before tax of Rs.768 crore, which was a 50% increase in comparison with FY 2015-16. The embedded value of Max Life Insurance was recorded at Rs.6,590 crore on the 31st of March, 2017, and the operating return on EV was recorded at 20%.

      1 June 2017

    • Max Life Insurance Wins ASQ Bronze, Makes India Proud

      One of the biggest and most popular life insurance companies in India, Max Life Insurance, has won the AS Bronze award for ‘Improve 7 calendar day TAT for policy servicing; at the World Conference on Quality and Improvement. The project worked around the extensive utilisation of Lean Six Sigma tools and methodology – the results of which were lower servicing turnaround time by 50% of prescribed regulatory timelines of 15 days. A certificate of recognition for persistence in project management was also awarded to the project.

      A couple of other projects revolving around ‘Reducing Crude Death Rate’ and ‘Clearance of Unclaimed Balance’ also won certificates of recognition. Each of the aforementioned projects were in keeping with the mission of Max Life Insurance Company Ltd., which is “being an honest life insurance company, committed to doing what is right for the customer”.

      Max Life has made India proud not only with its work, but by also winning an award in which more than 300 projects participated from the world over this year. The Senior Director and COO of Max Life Insurance, Mr. V. Viswanand said, “We are pleased to receive this recognition on a global platform. This award is a testament to our constant endeavour in improving and delivering outstanding service to our customers to whom we offer comprehensive life insurance solution for long-term savings and protection as well as retirement solutions. The recognition received by all three participating projects from Max Life Insurance is a big recognition. The wins make it even more significant as our projects were representing India at this global platform and we proved that India can now compete with the world in terms of quality standards.”

      17 May 2017

    • Rate Cut Up To 25 Basis Points Expected In Coming 12 Months Says Max Life CIO

      In a recent discussion, Mr. Mihir Vora, Director and Chief Investment Officer of Max Life Insurance, mentioned that the MPC (monetary policy committee) is likely to slash repo rates by 25 basis points in the coming 12 months. He also mentioned that structural liquidity available in the global system and local system has been a driving force in the past few months. For the future, Mr. Vora is hopeful of consistent consumption following the upcoming Pay Commission which will impact people’s spending power and help drive about a growth in the range of 6.5 % to 7%.

      Speaking about the growth, Mr. Vora commented that even though the environment has been positive, the market growth has not yet reflected in the physical economy. He said that government spending is the cause of the economic hold-up, along with urban and rural consumption that are stopping capital expenditure from coming in.

      4 May 2017

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