The Indian government on Wednesday permitted owners of the daily foreign newspapers to make 100 per cent FDI (foreign direct investment) in their facsimile editions published in India.
The government's prior approval for publication of facsimile edition, however, will be required, an official announcement here said.
For the purpose, an entity will have to be incorporated or registered in India under the Companies Act before bringing out the publication.
Further, the guidelines for publication of newspapers and periodicals dealing with news and current affairs and the facsimile edition of foreign newspapers -- issued by the Union Ministry of Information and Broadcasting on March 31, 2006, and amended from time to time -- will apply to such publications.
However, in case of the publication of the Indian editions of foreign magazines dealing with news and current affairs, the FDI ceiling of 26 per cent will continue. The foreign investment in these non-daily periodicals containing news or comments on public news, shall be subject to the ministry's guidelines on December 4 last, the announcement added.
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