Economy News

Government puts 26% FDI Cap on News Agencies

The government said that it will put a 26% FDI cap on news agencies which supply information to digital media firms, news aggregators and companies uploading news and current affairs on websites.

Department for Promotion of Industry and Internal Trade (DPIIT) said that these companies would be required to align their FDI to the 26 per cent level with the approval of the central government, within one year from the date of issue of this clarification”

In August last year, the Union Cabinet approved 26 per cent FDI (foreign direct investment) under government route for uploading/streaming of news and current affairs through digital media, on the lines of print media.

The categories are – entities uploading / streaming news and current affairs on websites, apps, other platforms; news agencies which gathers, writes and distributes/transmits news, directly or indirectly, to digital media entities and/or news aggregators; news aggregators which, using software / web applications, aggregates news content from various sources, such as news websites, blogs, podcasts, video blogs, in one location.

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