Group of ministers headed by home minister Shivraj Patel has recommended that facisminle edition of foreign edition newspaper could be allowed in India. It has also favored an increase in the foreign syndication level in Indian newspapers from 7.5% to 15-20%
According to a newspaper article the GoM has decided to retain the FDI cap in newspapers at 26%. FIIs will however be allowed in Indian newspapers, within the overall foreign investment cap of 26%.
Once the cabinet approves of this recommendation, foreign newspapers can start printing in India, without any change in the advertisement and editorial content they carry I their overseas edition.
Many foreign publishing houses are keen to print from India. Dow Jones has tied up with Bennet Coleman to publish Wall Street Journal from India, and McGraw Hill is leant to have licensed Cybermedia to publish business week. Among others financial Times, Daily mail fortuned and Forbes are also understood to be keen to come to India.
