I&B Ministry
FIPB refuses to consider Turmeric Vision proposal for contravention of foreign equity of 80%
NEW DELHI: Even as it refused to consider a proposal by M/s Turmeric Vision Private Limited on the ground that this does not come within its domain, the Foreign Investments Promotion Board has deferred a proposal by M/s Quintillion Business Media Private Limited seeking approval for the issuance of equity shares to BLOOMBERG L.P.
With regard to the Quintillion proposal, the Finance Ministry said “the investee company is proposed to be engaged inter alia in the uplinking and broadcasting of a business news television channel and operating the related digital content platform in India”.
Turmeric Vision Private Limited had sought Post facto approval for contravention of the foreign equity of 80% as approved vide approval letter of even no. FC II 60(10)/91(2010) of 14 June 2010.
FIPB also deferred a proposal by M/s Tikona Digital Networks Pvt Ltd for approval for the issuance of CCDs thereby increasing foreign equity to 76.73%; and a proposal by Netmagic Solutions Private Limited for increase in the shareholding of NTT Communications Corporation, Japan, in the company from 81.63% to 100%.
The Board rejected a proposal by M/s Sistema ShyamTeleServices Limited seeking approval for the exit of the resident shareholders and transfer of their holdings to the existing foreign shareholders i.e. M/s Sistema Joint Stock Financial Corporation, Russia and Federal Agency for the State Property Management (Rosimushchestvo), thereby increasing the foreign shareholding in the company from 73.95% to 100% and consequently increasing the foreign shareholding in its downstream company i.e. Shyam Internet Services Limited to 100%.
I&B Ministry
Government sets up AI governance group to steer policy
AIGEG to align ministries, assess jobs impact, guide AI deployment.
MUMBAI: If artificial intelligence is the engine, the government is now building the dashboard and making sure everyone reads from the same screen. The Centre has constituted a new inter-ministerial body to coordinate India’s approach to AI, formalising a key recommendation from its governance framework and the Economic Survey. The AI Governance and Economic Group (AIGEG), set up by the Ministry of Electronics and Information Technology, will act as the central platform to align AI-related policy across ministries, regulators and departments, an attempt to bring coherence to what has so far been a fragmented and fast-evolving landscape.
The group will be chaired by union minister Ashwini Vaishnaw, with minister of state Jitin Prasada as vice chairperson. Its composition reflects both technological and economic priorities, bringing together the principal scientific adviser, the chief economic adviser, and the CEO of NITI Aayog, alongside key secretaries from telecommunications, economic affairs and science and technology. A representative from the National Security Council Secretariat is also part of the group, while the MeitY secretary will serve as member convenor.
At its core, AIGEG is designed to do two things: coordinate and anticipate. On the policy front, it will review existing regulatory mechanisms, issue guidance across sectors and ensure companies remain compliant with evolving legal frameworks. Beyond that, it will oversee national initiatives on AI governance, with a focus on enabling responsible innovation rather than merely regulating it.
The economic dimension is equally central. The group has been tasked with assessing how AI-driven automation could reshape jobs identifying which roles are most at risk, where those impacts may be geographically concentrated, and whether technology will augment or replace human labour. Based on these assessments, it will develop mitigation strategies and transition plans, signalling a more proactive stance on workforce disruption.
In parallel, AIGEG will work with industry stakeholders to chart a long-term roadmap for AI adoption, categorising use cases into “deploy”, “pilot” or “defer” buckets depending on readiness factors such as data availability, skill levels and regulatory clarity. The aim is to move from broad ambition to structured execution deciding not just what can be built, but what should be built now.
The group will function as the apex layer in India’s AI governance architecture, supported by a Technology and Policy Expert Committee that will track global developments, emerging risks and regulatory priorities. Together, the two bodies are expected to shape both the pace and direction of AI adoption in the country.
In a landscape where technology often outruns policy, the creation of AIGEG signals an attempt to close that gap ensuring that India’s AI journey is not just rapid, but also coordinated, accountable and economically grounded.
