Seeking to give the slowing economy a foreign investment push, the Centre on Wednesday relaxed foreign direct investment norms across sectors, including single-brand retail and allowed 100% FDI in coal mining and contract manufacturing.
On the lines of print media, it also allowed 26% FDI in digital media space. The existing policy allows 49% FDI under approval route in up-linking of news and current affairs TV channels.
Wednesday’s Cabinet decision permitted 26% FDI under government route for uploading/streaming of news and current affairs through digital media, on the lines of print media.
The decisions were taken by the Union Cabinet headed by Prime Minister Narendra Modi, focussing on the sectors which have either slowed down or were not giving a desired push to the government’s ‘Make in India’ initiative.
