Mangalore:  The All India Insurance Employees Association  has come down heavily on the Union Government for its decision to allow FDI in retail sector.

Speaking to reporters in Mangalore, U Gurudutt, Chief Secretary of the Association also opposed the Insurance Laws (Amendment) Bill 2008 and said  the plans to increase  foreign investment in insurance sector was detrimental to the domestic insurance sector. He also said India did not need foreign investment in insurance sector as statistics reveal it stood first in the world in providing insurance cover to people.

He said the association would be protesting throughout the nation against the FDI policies and price rise on February 20 and 21, 2013.