New Delhi: The Central government is planning to raise the Foreign Direct Investment (FDI) limit in the print media section from 26% to 49%.
Currently, the FDI policy permits 26% foreign direct investment in the publishing of newspapers and periodicals dealing with news and current affairs through government approval route.
As per sources, the government has started a consultation process on the matter with an aim to attract more foreign funds in the sector.
Notably, last year the government relaxed FDI norms in various sectors, including civil aviation, defense, private security agencies, pharmaceuticals and food processing industry. During 2015-16, FDI in the country increased by 29% to $40 billion.
Meanwhile, As per the government, the number of print media publications in India grew 5.13% in the year ended March 31, 2016. A total of 5,423 new publications were registered during the year, taking the total count of registered publications to 1,10,851 from 1,05,443 in the previous year sources said.