FDI cap tweak in print media in the works

This can mean companies like Apple, Zara can sell in India through wholly-owned subsidiaries

The Narendra Modi government is planning the next big round of foreign direct investment (FDI) liberalisation, which could have significant implications for several sectors, including print media and retail. Economic ministries are learnt to be working on a proposal to step up the FDI limit in print news media to 49 per cent, from the current cap of 26 per cent. Also, there are plans to allow single-brand retail companies with up to 100 per cent FDI to go through the automatic clearance route. 

A draft Cabinet note on phasing out the Foreign Investment Promotion Board (FIPB) is already in the