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FDI norms for films eased

Our Bureau

NEW DELHI, March 28

IN a bid to boost foreign direct investment in the films sector, the Government has done away with the minimum capitalisation and foreign investment requirements.

While 100 per cent FDI was being permitted in films, the Government had stipulated that the company should have a minimum paid-up capital of $10 million if it is the single largest equity shareholder and at least $5 million in other cases.

The minimum level of foreign equity investment was pegged at $2.5 million for a single largest equity shareholder and $1 million in other cases. A debt equity rate of not more than 1:1 has also been done away with.

The Government today also notified permitting up to 100 per cent FDI in the advertising sector through the automatic route.

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