PWC, Assocham propose FDI cap hike in media, entertainment

NEW DELHI: Advisory firm Pricehouse Watercoopers (PWC) and industry body Assocham on Friday said the government should relax foreign direct investment ( FDI) cap in FM radio, direct-to-home ( DTH) and cable network.

"FDI ceiling should go up in FM radio from existing 20 per cent to 49 per cent and in DTH and cable services it should be hiked to 74 per cent from 49 per cent," Assocham said in a statement.

The organisations also emphasised on the need to streamline the FDI policy for the media and entertainment sector.

"There is a strong case for review of FDI policy (for the media and entertainment) and bring consistency in order to provide a level playing field for competing technologies," the statement said.

According to the industry body, rules regarding FDI vary from segment to segment in Media &Eentertainment sector which creates confusion and discourages foreign investors from investing in the segment.