The government has allowed 100 per cent foreign direct investment (FDI) in facsimile edition of foreign newspapers and Indian edition of foreign magazines dealing with news and current affairs.
"The policy for FDI in publication of facsimile edition of foreign newspapers include permitting 100 per cent FDI with prior approval of the government for the publication of the facsimile edition, provided the FDI is by the owner of the original foreign newspaper, whose facsimile edition is proposed to be brought out in India. The policy also specifies that, the publication can be undertaken only by an entity incorporated or registered in India under the provisions of the Companies Act, 1956," said a release issued by Commerce and Industry Ministry today.
The current FDI policy allows 26 per cent FDI in Indian edition of news papers and magazines dealing with current affairs and news, with prior government approval.