NEW DELHI, JUNE 29: India approved a proposal from news and information provider Reuters Group Plc to invest in Times Global Broadcasting Co Ltd's news and current affairs television channel, a government statement said on Thursday.
The proposal was among 20 foreign investment plans worth Rs 7.62 billion approved by Finance Minister P Chidambaram.
Reuters Group Plc and The Times of India group run a 24-hour news and current affairs television channel which aims to take advantage of growth in India's cable and television market.
The market is the world's third largest, with an estimated 61 million subscribers.
The government approved an investment of Rs 221 million by Reuters in Times Global Broadcasting for uplinking and broadcasting news and current affairs television channels from India, the statement said.
