India ends foreign ownership ban

India looks for new buyers of its newspapers

India has ended a 50-year ban on foreign ownership of the print media.

It has also approved total foreign control of its tea plantations, as part of its economic liberalisation programme.

"The cabinet took a major policy decision and it has approved 26% foreign direct investment (FDI) in news and current affairs and 74% FDI in non-news, non-current affairs publications," said Information and Broadcasting Minister Sushma Swaraj.

Despite lifting the ban, editorial and management control of publications will have to remain in Indian hands Ms Swaraj said.

Foreign investors will also have to get security clearance from the government before any deal is approved.

The cabinet also raised the foreign investment limit in tea plantations to 100%.

India is the world's largest producer and consumer of tea.

Ownership debate

In 1955, India banned foreign ownership of domestic publishing houses in order to protect national sovereignty and culture.

Foreign investment in the print media has generated fierce debate, although foreign television media channels have been operating in the country for several years.

The decision was condemned by opposition political parties.

"The party has been opposing foreign direct investment entry in print media which is also not favoured by the standing committee of parliament," said Anand Sharma of the Congress Party.