Foreign investment in Print Media dealing with news and current affairs

Part C : RBI/FEMA

Foreign investment in Print Media dealing with news and
current affairs

This Press Note lays done FDI policy in respect of foreign
investment in publication of facsimile edition of foreign newspapers and
Indian edition of foreign magazines dealing with news and current affairs.

This Press Note has amplified Entry No. 27 Annexed to Press
Note 7 (2008), dated June 16, 2008 as follows :

Foreign direct investment (FDI) in publication of facsimile
edition of foreign newspapers

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. 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.

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 the Ministry of
Information & Broadcasting on 31.3.2006, as amended from time to time.

Foreign investment in publication of Indian editions of
foreign magazines dealing with news and current affairs

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

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.

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.