Bloomberg Gets Foreign Investment Approval

Business Standard: The Indian government today approved a proposal by New York-based Bloomberg LP to set up a 100 per cent subsidiary in India for television programming and software production. Bloomberg was among 19 foreign direct investment proposalsapproved by the finance ministry, he proposals had been recommended by the Foreign Investment Promotion Board.
Bloomberg’s is the first attempt by an international television news agency to set up operations in the country. It now has a 100 per cent subsidiary in India that undertakes electronic information services such as data service, and audio and video text services. As Business Standard had reported earlier, the proposed television software venture will produce and distribute business and financial news television programme in English to local television channels.

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