I&B sector brought in Rs 6059 Cr FDI in H1 2023-24: DPIIT
The sector together contributed 3.6 percent in the overall FDI inflow of Rs 31,720 crore during the period
According to latest data revealed by Department for Promotion of Industry and Internal Trade (DPIIT), the Information and Broadcasting Sector, including print media, has brought in Rs 6058.67 crore inflow of foreign direct investment (FDI) during the first half of FY 2023-24.
The sector together contributed 3.6 percent in the overall FDI inflow of Rs 31,720 crore during the period.
Specifically in the second quarter of 2023-24 (Jul-Sep), the sector attracted FDI worth Rs 1165.18. Out of which, the radio broadcasting sector brought in Rs 953.23 worth FDI equity inflow, contributing 1.52 percent to the total inflow. The remaining Rs 211.95 crore, which occupied 0.33 percent of total inflow, was brought in by the film and advertisement sector.
In the quarter ended September, the FDI influx in the sector amounted to Rs 1,165 crore, reflecting a notable decrease from the Rs 4,893 crore recorded in the June quarter. The most substantial movement was made by Bodhi Tree Systems through BTS Investment 1, contributing Rs 4,306.32 crore to invest in Reliance Industries Limited's (RIL) subsidiary, Reliance Storage.
Following that, BTS Investment 1 injected Rs 953 crore into Viacom18, securing an additional 2.89 percent stake in the company.
