26% FDI to Digital Media Platforms - Move will definitely benefit the online media industry
Gautam Sinha, CEO, Times Internet said, "At present, a significant part of the growth in the media sector is coming from digital consumption of content with around 25% of the Indian youth being hooked to this medium. It is great that the potential of digital content is being recognized and an industry-specific exception is being made in the guidelines. I believe this move will definitely benefit the online media industry since it will help companies raise additional capital from oversea players/investors." Mr.Sinha added I think it is a good start and as we tread with caution, I would like to see it move higher in years to come.