3 Min Read NEW DELHI, Feb 1 (Reuters) - The Indian government on Monday said it plans to raise limits on how much foreign companies can invest in the country’s insurance industry, a move that could attract inflows from U.S. and European insurers. Finance Minister Nirmala Sitharaman in her budget speech for 2021-22 said the government would allow foreign direct investment of up to 74% in insurance entities, up from 49% currently, clearing the way for “foreign ownership and control with safeguards”. The change could attract investments from international insurance companies, industry sources said, many of which have existing joint-venture operations in India, including from American International Group and United Kingdom’s Prudential Plc.