Some foreign direct investment approvals have been granted by India’s Foreign Investment Promotion Board (FIPB):
– Vogel Business Media has received an approval for induction of FDI up to 100 per cent “to carry out the business of publishing/ printing of scientific and technical magazines/ specialty journals/periodicals”, for an inflow of Rs 10 Lakhs crore (that cant be right, can it?). Vogel is a German publisher, with specialist periodicals, and brought out the first issue of PROCESS India magazine in April. It doesn’t have an India specific website, but there is a Process Worldwide website.
– What’s On India Media Pvt. Ltd has received an approval for “induction of foreign equity by way of issue of preference shares to carry out the business of TV channel license for up-linking a non-news and current affairs TV channel”. The approval is for Rs. 99 lakh. What’s On India provides electronic programming guide (EPG) services, and recently launched EPG services in the cloud.
– Star News Broadcasting Ltd. (Touch Tele Content (I) Ltd.) has received an “Ex post facto approval on the advice of RBI. The company is engaged in the business of providing support services to other media companies and to undertake the business of creating owning and distributing non news and current affairs television channels”
– Mango Holding Limited, Bangladesh has been allowed to subscribe to equity shares of an Indian company engaged in the business of manufacturing and Supply of Wireless Equipment by a company from Bangladesh, for up to Rs 3.33 crore.
Read: FIPB Press Release