Govt lets in Indian editions of foreign news magazines with up to 26% FDI

New Delhi, September 18: The Union Cabinet today liberalised its print media policy by allowing Indian editions of foreign news and current affairs magazines with up to 26% foreign direct investment (FDI).

The I&B ministry said this will give Indian readers access to foreign magazines at rates cheaper than what the current imported ones cost. “The Indian reader would be benefited immensely as he/she would be able to keep abreast with latest events and happenings on the global scale,” it said.

Content will be allowed to be up to 100% identical to the foreign magazine concerned and the Indian publisher will be free to add local content and local ads. Until now, 26% FDI was allowed in Indian newspapers while foreign news magazines could only have facsimile editions. The Ministry has stipulated that the Indian publisher will have 74% stake. And at least three-quarters of the directors on the board and all key executives and editorial staff will be resident Indians. Since 2005, 100% FDI has been allowed in the non-news magazine segment.

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