Sanlam Ltd., Africa's biggest insurer, is betting on India to boost short-term profits. The Cape Town-based firm has the potential to triple profits from India within a decade, according to CEO Paul Hanratty. Sanlam has been partnered with Shriram Capital Group in India since 2005, with the country currently accounting for 10% of profit. India's rapidly growing economy, with a projected 6.4% growth this year, is attracting firms like Sanlam. However, Sanlam still relies on South Africa for 75% of its revenue and needs the country to do well in the long run.
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