FDI In India's Information And Broadcasting Sector Surges 87% In FY 2024

New Delhi, Jul 18 (KNN) Foreign direct investment (FDI) in India's information and broadcasting sector witnessed a significant uptick in the fiscal year ending March 31, 2024, according to data released by the Department for Promotion of Industry and Internal Trade (DPIIT).

The sector attracted Rs 7,012 crore in FDI, marking an 87 per cent increase from the previous fiscal year's Rs 3,745 crore.

A substantial portion of this investment, over 60 per cent, came from Bodhi Tree Systems' Rs 4,306 crore infusion into Viacom 18.

This transaction, spearheaded by media veterans Uday Shankar and James Murdoch, was a key driver of the sector's growth, particularly in the April-June quarter when total inflows reached Rs 4,893 crore.

The subsequent quarters saw a gradual decline in investments, with Rs 1,165 crore in the second quarter, Rs 332 crore in the third, and Rs 661 crore in the final quarter.

Notable foreign investors included global advertising conglomerates Dentsu Pacific, Havas, and WPP, alongside entertainment entities such as Sony Music Publishing, Crunchyroll India, Warner Music, and Cinepolis.

The fourth quarter's inflows, while substantial, were 24 per cent lower than the same period in the previous year.

Major transactions during this time included Dentsu Pacific's Rs 463 crore investment in its Indian subsidiary and Ivy Entertainment Holdings' Rs 123 crore infusion into its local unit.

India's FDI policy allows 100 per cent foreign investment in entertainment channels and TV distribution platforms, while capping it at 26 per cent for print and digital news, and 49 per cent for TV news and FM radio.

(KNN Bureau)