India’s long-awaited package of financial services reforms is setting the stage for a surge of foreign capital into the world’s fastest-growing major economy.In the latest step, lawmakers passed a bill this week allowing up to 100% foreign ownership of insurance firms, bolstering an industry long viewed as under-penetrated and capital-starved. Regulators have also overhauled rules for banks, pension funds and capital markets as they aim to shift savings from idle assets such as gold and property toward equi ...