Star India, a subsidiary of 21st Century Fox, is looking to invest $5 billion more over the next three years. The announcement regarding the additional investment was made at the US-India Business Council’s (USIBC) Leadership Summit in Washington.
“We see huge potential in the Indian market and have been one of the largest foreign investors in India and the largest in media and entertainment sector,” Star India chairman and CEO Uday Shankar said.
Prime Minister Narendra Modi, who was on a five-nation tour, addressed the USIBC’s 41st Annual Leadership Summit. Modi met CEOs from both the United States and India to get an update on the progress in the bilateral commercial relations at the CEO Roundtable.