The government is considering a proposal to increase the limit for foreign direct investment (FDI) in print media sector to 49 percent. Currently, the FDI policy permits 26 percent foreign direct investment in the publishing of newspapers and periodicals dealing with news and current affairs through government approval route.
The government has started a consultation process on the matter with an aim to attract more foreign funds in the sector, people familiar with the matter.
Last year, the government relaxed FDI norms in several sectors, including civil aviation, defence, private security agencies, pharmaceuticals and food processing industry.
During 2015-16, foreign direct investment (FDI) in the country increased by 29 percent to $40 billion, from $30.93 billion in the previous fiscal.
Foreign investments are considered crucial for India, which needs around $1 trillion for overhauling its infrastructure sector such as ports, airports and highways to boost growth. Foreign investments will help improve the country's balance of payments situation and strengthen the rupee value against other global currencies, especially the U.S. dollar.
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