Department of Industrial Policy & Promotion has issued press Note 1 of (2009 Series) dated 14th January 2009 amending FDI policies in Print Media in particular News & Current affairs matters.
Foreign direct investment (FDI) in publication of facsimile edition of foreign newspapers:
· FDI up to 100% is permitted with prior approval of FIPB in publication of facsimile edition of foreign newspapers.
· Investment should be made by the owner of the original foreign newspaper(s) whose facsimile edition is proposed to be brought out in India.
· Business can be undertaking only by an entity incorporated or registered in India under the provisions of the Companies Act.
· Publication of facsimile edition of foreign newspaper would also be subject to the Guidelines for publication of newspapers and periodicals dealing with news and current affairs and publication of facsimile edition of foreign newspapers issued by Ministry of Information & Broadcasting on 31.3.2006, as amended from time to time.
Foreign investment in publication of Indian editions of foreign magazines dealing with news and current affairs.
- FDI upto 26% including investment by NRIs/PIOs/FII, is permitted with prior approval FIPB.
- 'Magazine', for the purpose of these guidelines, will be defined as a periodical publication, brought out on non-daily basis, containing public news or comments on public news.
· Foreign investment would also be subject to the Guidelines for Publication of Indian editions of foreign magazines dealing with news and current affairs issued by the Ministry of Information & Broadcasting on 4.12.2008.
Click here for the Press Note 1 2009 series http://siadipp.nic.in/policy/changes/pn1_2009.pdf
So, whats the impact of this amendment
A facsimile edition is an exact replica of an international edition that meets certain conditions and cannot carry separate advertisements aimed at Indian readers or locally generated content or India-specific content, not published in the original edition of the foreign newspaper.
The all new Indian edition was added to the WSJ.com website this weekend and includes coverage from the New Delhi and Mumbai bureaus of Wall Street Journal which can be read from http://india.wsj.com/
For your kind information, Wall Street Journal also has a partnership with Hindustan Times in India to publish Mint - a business newspaper that is available in both print and online edition at livemint.com.
And you will find many more Indian editions of e-newspapers & foreign magazines.
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