Govt Seeks Compliance of 26% FDI in Digital News Within A Month

The Ministry of Information and Broadcasting on Monday issued a public notice asking entities involved in streaming of news and current affairs through digital media to comply with the Centre’s earlier order permitting 26 per cent foreign direct investment under the government approval route to such entities. Under the notice, “entities having foreign investment below 26 per cent may furnish an intimation to the Ministry of Information and Broadcasting within one month giving details of the company and its shareholding pattern along with the names and addresses of its directors/shareholders. “Entities which, at present, have an equity structure with foreign investment exceeding 26 per cent would give similar details as above to the ministry within one month from today, and take necessary steps for bringing down the foreign investment to 26 per cent by October 15, 2021 and seek approval of the ministry,” the notice said. In its notice issued on Monday, the ministry also said that any entity which intends to bring fresh foreign investment in the country has to seek prior approval of the central government, through the Foreign Investment Facilitation Portal of DPIIT, as per the requirements of the FDI policy of the government.