Indian govt allows facsimile editions of foreign newspapers

New Delhi, Feb 11 (PTI) The Indian government has finally
allowed publication of facsimile editions of foreign
newspapers in the country, with 'The Wall Street Journal'
becoming the first to get the nod.

The Information and Broadcasting Ministry Wednesday said
for the first time, it has given approval for publication of
the facsimile edition of foreign newspapers by allowing the
publication of "The Wall Street Journal" and "The Wall Street
Journal Asia".

The newspapers will be brought out by Wall Street Journal
India Publishing Private limited, a wholly owned subsidiary of
Dow Jones and Company Inc, USA.

The permission for Foreign Direct Investment (FDI) worth
Rs 2.16 crore was given earlier, it said.

The government has been gradually relaxing the norms for
foreign publications in the country. Last year, it allowed
India editions of foreign news and current affairs magazines,
while allowing 26 per cent FDI into such ventures.

The decision was aimed at providing Indian readers
access to foreign magazines at cheaper rates in comparison
to the cost after their import. Earlier, foreign news
magazines, such as the US' 'Time' and UK's 'The Economist'
were allowed to take out only facsimile editions, which came
at a high price.