Disney to Invest Rs.1,000 cr in India
The Indian government has approved US-based Walt Disney's Rs.1,000 crore investment proposal in broadcasting business in India.The government has approved 10 foreign direct investment (FDI) proposals worth nearly Rs. 1260 crore, including Rs1,000 crore investment by Walt Disney for expanding its operations in India. The American firm's proposal is for "induction of foreign equity for inter alia expansion of the business and making downstream investment in other companies and subsidiaries of the company, including broadcasting companies."While the government approved 10 proposals on the basis of recommendations of the Foreign Investment Promotion Board (FIPB), the board had sought to defer decisions on 16 other FDI proposals