Confirmation of the growing overseas interest in the Indian entertainment sector came Thursday with the release of government figures showing record levels of foreign investment in 2007.
According to the Information and Broadcasting Ministry foreign investment amounted to $215 million from April to December. That compared with a mere $44 million in 2006. The previous highest year was 2000-01 with $81.5 million.
Recent investments by Western entertainment congloms have included Disney’s enlarged stake in UTV Software Communications, Viacom’s co-investment with the TV 18 Group, Turner Entertainment’s commitment to a joint venture with Alva Bros. and, most recently, NBC Universal’s stake in NDTV.