Digital
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FDI in Information & Broadcasting sector drops 31% in Q1 FY25
The I&B sector attracted foreign direct investment worth Rs 3,374 crore in the first quarter of the current fiscal, according to the Department for Promotion of Industry and Internal Trade (DPIIT).
FDI in the information and broadcasting sector increased by 87% to Rs 7,012 crore for FY24, which was up from Rs 3,745 crore in FY23.
The foreign direct investment (FDI) in the Indian information and broadcasting sector has gone down 31% in the first quarter of FY25.
According to the Department for Promotion of Industry and Internal Trade (DPIIT), the sector attracted FDI worth Rs 3,374 crore in the same period, as compared with Rs 4,893 crore worth of FDI received a year ago in the same period.
The report highlighted that the major investment in the quarter (April-June) came from Walt Disney, the company that invested Rs 2,839 crore. Meanwhile, IVY Entertainment Holdings (B4U Movies, B4U Kadak, and B4U Multiplex) invested Rs 219 crore.
It is to be noted that Walt Disney's mammoth investment comes at a time when its subsidiary Star India is in the process of merging with Viacom18 to create $8.5 billion worth media entity.
In FY24, the FDI in the sector increased by 87% to reach Rs 7,012 crore, which was up from Rs 3,745 crore in FY23.
SPOTLIGHT
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