Govt Mulls Raising FDI Limit in Print Media to 49 %
The government is considering a proposal to increase foreign direct investment (FDI) limit in print media sector to 49 per cent from 26 per cent at present.
India crossed the USD 300 billion foreign direct investment (FDI) milestone between April 2000 and September 2016/TV grab
New Delhi: The government is considering a proposal to increase foreign direct investment (FDI) limit in print media sector to 49 per cent from 26 per cent at present.
Currently, the FDI policy permits 26 per cent foreign direct investment in the publishing of newspapers and periodicals dealing with news and current affairs through government approval route.
According to sources, the government has started a consultation process on the matter with an aim to attract more foreign funds in the sector.
Last year, the government relaxed FDI norms in several sectors, including civil aviation, defence, private security agencies, pharmaceuticals and food processing industry.
During 2015-16, foreign direct investment (FDI) in the country increased by 29 per cent to USD 40 billion, from USD 30.93 billion in the previous fiscal.
Foreign investments are considered crucial for India, which needs around USD 1 trillion for overhauling its infrastructure sector such as ports, airports and highways to boost growth.
Foreign investments will help improve the country's balance of payments situation and strengthen the rupee value against other global currencies, especially the US dollar.
Recommended For You
- Reliance Jio Monsoon Hungama Offer: Understanding The Costs And The Benefits
- WhatsApp and Verificado: Understanding the fact checking tool that could be modified for India
- After Wimbledon Triumph, Novak Djokovic Writes Emotional Letter to Fans
- Cyberattack on Singapore Health Database Steals Details of 1.5 Million Users, Including PM
- Anushka Sharma and Virat Kohli are Giving Us Major Relationship Goals; See Their PDA Pics