India raises foreign ownership stake in news channels


Details

Rebecca Hawkes

| 13 November 2015





The Indian Government has eased foreign ownership restrictions on news and current affairs channels on television and radio.


Foreign companies will now be able to own up to 49% of news outlets, up from the current limit of 26%, subject to government approval.

Foreign direct investment (FDI) in satellite, cable, headend in the sky and mobile TV platforms are also set to rise from the current 74% to 100%. Up to 49% FDI will be automatic, while higher flows will require government permission.

Non-news channels in India can already be 100% owned by foreign companies under existing regulations, and US entertainment giants including Disney, Fox and Viacom currently have a substantial presence in the country.

"The crux of these reforms is to further ease, rationalise and simplify the process of foreign investments in the country and to put more and more FDI proposals on automatic route instead of government route where time and energy of the investors is wasted," the government said in a release.

The move is part of the Indian Government's liberalisation of 15 industry sectors, including agriculture and banking, and comes as Prime Minister Narendra Modi embarks on a visit to the UK.