These foreign companies can now tap one segment of the Rs 36 billion plus television advertising market that was denied to them till now - the local non-exporting advertiser.

As per RBI guidelines, foreign broadcasters could till now accept advertising only from exporters with realisations of Rs 1 million in each of the previous two years.

Although the actual notification is yet to be issued, government clearance came through over the weekend, it is learnt. Rohit Gupta, executive V-P sales and revenue management, SET India said the move would immediately open up advertising opportunities in the Indian financial and insurance sectors, among other things.

The directive would nullify the clear advantage the likes of Aaj Tak had as regards tapping into advertising from the smaller players were concerned, said Gupta.