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Government has directed digital media to reduce their foreign funding below 26 percent and for this they have one year of time. As per the notice issued by the government digital media groups which have foreign investment less than 26% should submit complete details about their shareholding pattern within one month. They will also have to provide details about the directors, promoters and shareholders.
“Entities, which, at present, have an equity structure with foreign investment exceeding 26 per cent would give similar details… within one month and to take necessary steps for bringing down the foreign investment to 26% by 15 October 2021 and seek approval of the ministry of information and broadcasting,” Monday’s order issued by Amarendra Singh, under secretary at the ministry said.
Any entity who wishes to bring the foreign funding must get through proper channel and acquire permission through the foreign investment facilitation portal of DPIIT.
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