Indians love their movies. But global entertainment firms don’t like being in India that much. They have refrained from active investment; their movie production operations are more or less defunct. What explains this disenchantment? Here’s one answer: “You can’t run the country on a tourist visa.”
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Sony Group Corp. narrowly escapes a risky $10 billion Indian merger after legal intervention, leaving target Zee Entertainment Enterprises Ltd. in dire straits amid mounting legal woes. The saga underscores caution for foreign investors in Indian deals. Zee s financial woes deepen as Sony s retreat prompts uncertainty, leaving room for new suitors like Adani, but with hurdles to clear.