No Changes in Media FDI Limits
Aug. 4 – The Indian government will not be changing the limit on foreign direct investment in the banking and media sectors, reports the Wall Street Journal.
Indian law only allows for 74 percent foreign direct investment in private banks and 20 percent in state-run banks. In the media industry, businesses like newspapers and periodicals only allow foreign investors to invest by as much as 26 percent.
The Indian parliament has already approved law to increase FDI limit in local insurance companies from 26 percent to 49 percent.
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