Govt mulls 5 firms' bid for FDI in print

The government on Monday said it was considering a total of five foreign investment proposals, including that of Jagran Prakashan Pvt Ltd and Times Journal India, in the news and current affairs publications and technical and scientific journals.

This was informed by Information and Broadcasting Minister S Jaipal Reddy in a written reply in the Rajya Sabha.

Among the proposals in the news and current affairs segment are that of 26 per cent FDI each in Jagran Prakashan and Times Journal India, which was made on October 12 last year.

Also under consideration is the 100 per cent NRI investment proposal of 'Anyatha Sahitya Samwad Parisar' in the category of Indian entities publishing scientific/technical/speciality magazine.

International Data Group, in its proposal made in June 2004, has sought 100 per cent FDI for publication of Indian edition as well as speciality publications of the company, Reddy said.

Fachpresse Publishers has sought 74 per cent foreign investment for their magazine 'Printcom India' on August 24 last year.

Proposals cleared recently include 50 per cent FDI in IBS Publishing for the magazine 'International Banking Systems', cleared on February 14 this year.

Indiacom Ltd, which brings out the magazine 'Indiacom Yellow Pages' also received a green signal for 53 per cent foreign investment on February 16 last month, the Minister said.