Government of India has clearly said no to increase the FDI limit for print media. P.R.Dasmunsi , Minister of Information & Broadcasting on Wednesday said that the ceiling will continue to be 26 % and there are no plans to revise it.
“At present 100% Foreign Direct Investment (FDI) is allowed in speciality sector and 26% FDI is allowed in news & current affairs sector in the print media. There is no proposal for increase in the ceiling of 26% FDI in print media, in the news & current affairs sector,” P.R.Dasmunsi , Minister of Information & Broadcasting said.
P.R.Dasmunsi said that the policy on FDI is reviewed on a continuous basis by Department of Industrial Policy and Promotion, with a view to rationalize/liberalize and simplify procedures.
” The Telecom Regulatory Authority of India (TRAI) has recommended a review of the Foreign Direct Investment Policy in a holistic manner to bring about a degree of consistency in the provisions for various segments of the media sector especially within the broadcasting sector and also in view of the likely convergence in future between telecommunication and broadcasting sectors. Ministry of Information & Broadcasting has requested TRAI to give its recommendations on Foreign Investment Limits for various segments of Broadcasting Sector. A CCEA note on rationalization of FDI policy for Broadcasting & Telecom Sectors has also been circulated by Department of Industrial Policy and Promotion for consultation with the concerned Ministries before placing it before CCEA for approval ,”‘ P.R.Dasmunsi said.
The Government has decided to seek the recommendations of TRAI on the existing foreign investment limits for different segments.