The government has decided not to raise the foreign direct investment cap in the print media sector in India. The current policy permits 26% FDI in newspapers and periodicals dealing with news and current affairs via approval route. The government had been mulling increasing this limit to 49%.
According to LiveMint, the Union Finance Ministry had recommended raising the FDI cap to 49% from 26% to bring it on par with news television channels and FM radio channels. The Department of Economic Affairs had asked the Department of Industrial Policy and Promotion to consider the proposal. However, the DIPP ruled against such an increase.
In June, the government announced a series of changes in its FDI policy, opening sectors like pharmaceuticals industry, civil aviation, animal husbandry, and e-commerce related to food products manufactured in India and broadcast technology such as DTH, cable and mobile television to 100% FDI.