ADVERTISEMENT

Go-ahead for 26% FDI in digital media

Go-ahead for 26% FDI in digital media

Published
Hot News
1 min read
New Delhi: Union Railways and Commerce Minister Piyush Goyal along with Union Environment, Forest and Climate Change and Information and Broadcasting Minister Prakash Javadekar, during a Cabinet Briefing in New Delhi on Aug 28, 2019. (Photo: IANS)
New Delhi, Aug 28 (IANS) The Union Cabinet on Wednesday approved 26 per cent foreign direct investment (FDI) in digital media with government approval.
Currently, 49 per cent FDI is provided under the approval route in news channels and the government has now decided to expand the span of FDI to the digital meda space.
"The extant FDI policy provides for 49 per cent FDI under approval route in up-linking of 'News & Current Affairs' TV channels. It has been decided to permit 26 per cent FDI under government route for uploading/streaming of news and current affairs through Digital Media, on the lines of print media," an official statement said.
The decision is expected give a boost to the booming digital media space in the country.
Commenting on the FDI approval, Jehil Thakkar, Partner, Deloitte India said: "FDI in digital media is a welcome development. Clarity around this fast-growing segment of the media industry will act as an enabler for capital infusion.
"Significant value will be unlocked in going forward," he added.
The Commerce and Industry Ministry statement further said that FDI is a major driver of economic growth and a source of non-debt finance for the economic development of the country.
"The government has put in place an investor-friendly policy on FDI, under which FDI up to 100 per cent is permitted on the automatic route in most sectors and activities. FDI policy provisions have been progressively liberalised across various sectors in recent years to make India an attractive investment destination," it said.
--IANS
rrb/prs

(This story was auto-published from a syndicated feed. No part of the story has been edited by The Quint.)

(The Quint is available on Telegram. For handpicked stories every day, subscribe to us on Telegram)

We'll get through this! Meanwhile, here's all you need to know about the Coronavirus outbreak to keep yourself safe, informed, and updated.

Liked this story? We'll send you more. Subscribe to The Quint's newsletter and get selected stories delivered to your inbox every day. Click to get started.

The Quint is available on Telegram & WhatsApp too, click to join.

ADVERTISEMENT
ADVERTISEMENT
Stay Updated

Subscribe To Our Daily Newsletter And Get News Delivered Straight To Your Inbox.

Join over 120,000 subscribers!
ADVERTISEMENT