Television

Govt allows 100% FDI in specialty magazines

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NEW DELHI: The likes of National Geographic Society can bring in its magazines to India more easily and so can media companies their specialty technical and scientific journals. The government has liberalised the foreign investment cap to 100 per cent from the existing 74 per cent.

 

The decision was announced yesterday after a cabinet meeting where a slew of economic decisions, aimed at boosting investments from abroad were taken. However, the government did not clear a proposal for raising the foreign investment ceiling from 49 per cent to 74 per cent in the telecom sector, according to a Press trust of India report.



After much debate, the government had opened up over 18 months back the print medium to foreign investment. Putting in riders to see that the Indian print medium industry did not go totally into foreign hand, the government had been more liberal where scientific and technical journals were concerned.



At present the foreign investment cap in the news category in the print medium is 26 per cent. Contrary to expectations, only Hindustan Times and Business Standard from amongst mainstream media houses have announced tie-ups for foreign investment until now. In Business Standard, London's Financial Times is slated to pick up about 14 per cent equity stake through a group company.

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