16 Jan : The Government of India had issued Guidelines for (i) Publication of Newspapers and Periodicals dealing with news and current affairs; and (ii) Publication of Facsimile editions of foreign newspapers on 31st March 2006. Preamble (ii) of said guidelines is hereby clarified as under:
“Foreign Direct Investment (FDI) is permitted in case of publication of facsimile edition of foreign newspaper(s). However, when the facsimile edition proposed to be published by the owner of the original foreign newspaper(s), the limit of FDI is upto 100%. In all other cases in facsimile edition of foreign newspaper(s), the FDI limit continues to be upto 26%”.
The said clarification has already been notified by the Department of Industrial Policy and Promotion, Ministry of Commerce & Industry vide their Press Note No. 1 of 2009 Series.