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Our Bureau

New Delhi, Dec. 4 Having recently allowed the publication of Indian editions of foreign news and current affairs magazines, the Government has today notified guidelines.

A foreign direct investment ceiling of to 26 per cent will be applicable to the publishers of these magazines defined as ‘a periodical publication brought out on non-daily basis containing public news or comments on public news’.

The entity publishing the edition will have to be an Indian company registered with the Registrar of Companies under the provisions of the Indian Companies Act, 1956. The verification of the title of the publication and its registration will have to be done with the Registrar of Newspapers for India (RNI) under the Press and Registration of Books Act, 1867 and as per current procedure.

At least three fourths the Directors on the Board the Indian entity, all key executives and editorial staff would have to be resident Indians. The other requirements include that the proposed publication have been published continuously for a period of at least five years with a circulation of at least 10,000 paid copies in the last financial year in the country of its origin.

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