New Delhi, Sep 15 (ANI): The Cabinet Committee on Economic Affairs (CCEA) has decided to raise Foreign Direct Investment (FDI) cap to 74 percent in various services of the broadcasting sector.
The decision of the cabinet will apply to broadcast carriage services providers, including Direct-to-Home, Head-end in the Sky (HITS), Multi-Service Operators (MSOs) and cable TV to bring about uniformity.
Till now, 49 percent FDI was allowed in cable TV and DTH while it is 74 percent in HITS. HITS is a satellite multiplex service that provides TV channels for cable operations.
Among other segments, 74 percent FDI was allowed in Mobile TV, which is an area of future growth.
In respect of Cable Networks (Other Multi-System-Operators not undertaking up-gradation of networks towards digitalization and addressability and Local Cable Operators), the existing limit of 49 per cent foreign investment, under the automatic route, would continue.
Similarly, for up-linking of 'News and Current Affairs' TV channels / FM Radio, the existing limit of 26 percent foreign investment, under the Government route, would continue and for up-linking of Non-'News and Current Affairs' TV Channels / Down-linking of TV Channels, the existing policy of 100 percent foreign investment, through the Government route, would continue.
Enhanced access to foreign investment is expected to expand the reach of broadcasting services, thereby improving accessibility of these services, and bring in international best practices.
The proposal will make the foreign investment policy for the broadcasting sector consistent with that of the telecom sector, because of the convergence of technologies involved in these two sectors, and thereby bring in greater investments into quality infrastructure for the broadcasting carriage services. (ANI)
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