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    Govt issues clarification on FDI policy in digital media; gives level playing field for Indian media

    Govt issues clarification on FDI policy in digital media; gives level playing field for Indian media

    Govt issues clarification on FDI policy in digital media; gives level playing field for Indian media
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    By CNBC-TV18  IST (Updated)

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    The Department for Promotion of Industry and Internal Trade (DPIIT) on Friday released a clarification on the issue of foreign direct investment (FDI) in the digital media sector.

    The Department for Promotion of Industry and Internal Trade (DPIIT) on Friday released a clarification on the issue of foreign direct investment (FDI) in the digital media sector.
    In a statement, DPIIT said the digital media entities will have to align FDI to 26 percent within one year of clarification after the union cabinet in September 2019 approved the cap.
    It said the majority of the board of directors and chief executive officer (CEO) of digital media companies with FDI will have to be Indian citizens and the firms will have to get security nod for all foreign personnel.
    "Security nod must for foreign personnel deployed for more than 60 days in India if security nod for any foreign personal gets denied, the employee has to resign/employment terminated," DPIIT said.
    Further, digital media FDI norms will be applicable to Indian entities
    uploading/streaming news and current affairs on websites or apps;
    a news agency that gathers writes and distributes news directly or indirectly to digital media entities/ news aggregators.
    Earlier in the print media sector, 26 percent FDI is allowed through government approval route. Similarly, 49 percent of FDI is permitted in broadcasting content services through the government approval route.
    But 100 percent is allowed for up-linking of non-news and current affairs' TV channels, and down-linking of TV channels through automatic approval route.
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