Govt rules out FDI in news agencies

BHOPAL: Maintaining that the 26 per cent ceiling on FDI in print and electronic media would remain unchanged, the Government has ruled out allowing Foreign Direct Investment in news agencies.

"There is no move to extend it (FDI) to news agencies," Information and Broadcasting Minister S Jaipal Reddy told reporters here last night.

The FDI would continue to be allowed only in other print and electronic media, he said replying queries during an informal chat with journalists here.

"26 per cent cap on FDI in print media and TV would remain. There is no proposal to raise the foreign equity cap," the Minister, who was here on a two-day visit, added.