Government is considering the suggestion from the Department of Economic Affairs to raise the foreign direct investment (FDI) limit in newspapers and periodicals to 49% from 26% at present, the move is aimed at attracting more foreign funds. However, the final decision will be taken by the Department of Industrial Policy and Promotion (DIPP).
Currently, the FDI policy permits 26% FDI in the publishing of newspapers and periodicals dealing with news and current affairs through government approval route. The Centre in November last had significantly relaxed the foreign investment regime. This was the second major reform in the FDI space.
During 2015-16, FDI into the country has increased by 29% to $ 40 billion from $ 30.93 billion in the previous fiscal. Recently, the government has permitted 100% FDI in single brand retail, civil aviation, defence, airports, pharmaceuticals, food products and animal husbandry.