IMPLEMENTATION LEVEL

National

AFFECTED FLOW

Inflow

ANNOUNCED AS TEMPORARY

No

NON-TRADE-RELATED RATIONALE

No

ELIGIBLE FIRMS

all

JUMBO

No

TARIFF PEAK

No
← back to the state act
Inception date: 14 Jan 2009 | Removal date: open ended
Still in force

FDI: Entry and ownership rule

 On 14 January 2009, the Ministry of Commerce and Industry issued Press Note No.1 titled "Foreign investment in Print Media dealing with news and current affairs." This note comprises the following two sections:


"2. Policy for foreign direct investment (FDI) in publication of facsimile edition of foreign newspapers

2.1 FDI up to 100% is permitted with prior approval of the Government in publication of facsimile edition of foreign newspapers provided the FDI is by the owner of the original foreign newspaper(s) whose facsimile edition is proposed to be brought out in India.

2.2 Publication of facsimile edition of foreign newspapers can be undertaken only by an entity incorporated or registered in India under the provisions of the Companies Act, 1956.

2.3 Publication of facsimile edition of foreign newspaper would also be subject to the Guidelines for publication of newspapers and periodicals dealing with news and current affairs and publication of facsimile edition of foreign newspapers issued by Ministry of Information & Broadcasting on 31.3.2006, as amended from time to time.

 

3. Policy for foreign investment in publication of Indian editions of foreign magazines dealing with news and current affairs.

3.1 Foreign investment, including FDI and investment by NRIs/PIOs/FII, up to 26%, is permitted with prior approval of the Government.

3.2 'Magazine', for the purpose of these guidelines, will be defined as a periodical publication, brought out on non-daily basis, containing public news or comments on public news.

3.3 Foreign investment would also be subject to the Guidelines for Publication of Indian editions of foreign magazines dealing with news and current affairs issued by the Ministry of Information & Broadcasting on 4.12.2008."

This regulation appears to create a distinction between different types of current affairs publications (fascimile editions and Indian editions of foreign magazines), with foreign investment restrictions in the former being relaxed. According to a Press Note issued the year before (No.7) the previous foreign shareholding for all such publications was limited to 26 percent. Therefore, this measure represents a liberalization of one aspect of India's foreign investment regime.

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