Government considering hiking FDI limit for media sector

NEW DELHI: The government is discussing a proposal for increasing FDI limit in the media sector from the current 26 per cent to attract foreign investments, sources said today.

An inter-ministerial panel is discussing the issue, sources said, adding the government may look at hiking the cap to 49 per cent.

A proposal regarding this was recently discussed in the Information and Broadcasting Ministry.

FDI is allowed only up to 26 per cent in publishing of newspapers and periodicals dealing with news and current affairs through government approval route.

In June last year, then Union Information and Broadcasting Minister Prakash Javadekar had said that the ministry is seeking inputs from various stakeholders on whether to allow 100 per cent FDI in news media.

The government has already liberalised FDI norms in sectors like insurance and defence to attract investments.