Walt Disney India was formed in August 1993 with licensing agreement as a joint venture partnership between The Walt Disney Company and Modi Enterprises. Disney filed in October 2001 with the Foreign Investment Promotion Board to create a wholly owned subsidiary company to launch the Disney Channel in India. The Department of Industrial Policy and Promotion granted Disney an initial approval for the subsidiary but with Modi protesting due to similarities to their joint venture. When the 10 year licensing agreement ended, Modi and Disney could not come to a new agreement, thus ending the joint venture agreement in August 2003.
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