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Ambarish Mukherjee

New Delhi , Sept. 22

WALT Disney Company has moved the Foreign Investment Promotion Board (FIPB) seeking permission to open a wholly-owned subsidiary in India to launch The Disney Channel (TDC) in India.

The company has said that it plans to invest around $10 million over a five-year period. According to the company's plans, The Disney Channel will be launched as a pay channel.

The channel will provide foreign productions dubbed in Indian languages as well as produce and outsource software and content locally, the company's application to the FIPB states.

Earlier, the FIPB had rejected the company's proposal to set up a wholly-owned subsidiary because the company's erstwhile Indian partners had declined to give their no-objection certificate. Now, the company has stated in its application that the problem with the former Indian partners has been settled.

The Disney group, which is one of the largest entertainment group in the world, proposes to make a grand entry into the Indian market.

For this, launching the Disney channel is the first step.

Sources said that Disney's group's television business is a critical driver for growing the group's other businesses. Once TDC has been launched in India, it will pave way for the group to start its other activities such as theme parks and resorts.

The company's other businesses, which it may start in due course, include Internet and other new media businesses, radio and production and distribution of locally produced filmed entertainment both in India and potential export to overseas market.

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