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As per data sourced from the Department for Promotion of Industry and Internal Trade (DPIIT), the sector accounted for 3.6% of the overall FDI inflow of ₹31,720 crore during the period.
A statement from Allen Career Institute, which is primarily an offline coaching business, said the acquisition will help the tutoring institute build on its technology-led learning solutions.
Paramount Global has reported a non-cash gain of $168 million from diluting its stake in Indian media conglomerate Viacom18. In April, Paramount's stake in Viacom18 dropped to 13% after a strategic transaction involving Reliance Industries Limited (RIL) and Bodhi Tree Systems. RIL entities and Bodhi Tree Systems invested Rs 15,145 crore in Viacom18, resulting in Paramount no longer accounting for it under the equity method.
Comcast-run NBC Universal received approval from the Competition Commission of India (CCI) late Wednesday to invest in Bodhi Tree, a move that will pave the way for the American multinational to own a small indirect stake in Viacom18 Media.
This approval comes after Reliance Industries and Viacom18 announced their strategic partnership in April with BTS to form one of the largest TV and digital streaming companies in the country.