MSM and WWIL proposals for FDI deferred by FIPB

NEW DELHI: The Finance Ministry has deferred any decision on a proposal by Multi Screen Media for induction of foreign equity to carry out the business of production of television programmes in India languages.

The proposal was primarily for export, sale and distribution of Indian language audio visual production and downlinking of certain TV channels.

On the advice of the Foreign Investments Promotions Board (FIPB), the Government also deferred a proposal by Wire and Wireless (India) Limited (now known as Siti Cable) to issue warrants to carry out the business of cable network business.