The minister of state (MoS) in the ministry of commerce and industry, CR Chaudhary told the Parliament on 27 December that the Information and broadcasting sector attracted USD 3.14 billion in foreign direct investment (FDI) in the last 3.5 years. This includes print media as well.
The Ministry said that the I&B sector attracted $363.75 million in the first half of the financial year 2018. The highest FDI inflow was seen in FY17 with $1.5 billion getting invested in the sector. In FY16, the FDI inflow stood at $1.09 billion. The financial year 2014-15 had seen the lowest FDI inflow in the last three years at $254.96 million.
The MoS said eight FDI proposals relating to the ministry of information and broadcasting (MIB) are pending approval. The I&B sector has seen several big-ticket deals in the last 3.5 years including Star India’s $346 million acquisition of the broadcast business of Maa TV Networks, Star’s acquisition of 13% stake in Asianet for $50 million, Sony Pictures Networks India’s acquisition of Ten Sports from ZEEL for $366.32 million, and Silver Eagle’s acquisition of 33.5% stake in Videocon d2h for $300 million.
The MoS said eight FDI proposals relating to the ministry of information and broadcasting (MIB) are pending approval. The I&B sector has seen several big-ticket deals in the last 3.5 years including Star India’s $346 million acquisition of the broadcast business of Maa TV Networks, Star’s acquisition of 13% stake in Asianet for $50 million, Sony Pictures Networks India’s acquisition of Ten Sports from ZEEL for $366.32 million, and Silver Eagle’s acquisition of 33.5% stake in Videocon d2h for $300 million.
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