Hello Abhishek,
The first and the foremost thing is the investment. You will require a minimum of 15 lakhs for starting an FM radio station. You will need to decide on the type of radio station you wish to start. However you may initially start with a low power FM. This type of radio station operates at lesser power than commercial stations and so they cover a smaller area anywhere near from 500mW to 100W, and may be license-free or alternatively it may be licensed. The exact area they will cover is dependent on terrain and the exact amount of power you are permitted. This level of power is sufficient to cover anywhere between a radius of a few kilometres to several kilometres. Once you are established with this, you may then expand it to a full power licensed radio station. This type of frequency will give station maximum coverage and will enable you to reach as many listeners as possible. During the initial stages you need to determine whether there are frequencies available in your area and also cost the equipment that is needed. Some of the points to consider when looking how to start up an FM radio station include:The process for obtaining an FM frequency and what to look out forHow many Watts you will need to achieve the broadcast coverage you wantWhat your obligations will be when it comes to music royaltiesWhat specialist services you need before to assist you in submitting your application for a frequencyWhat is the most appropriate powered transmitter and what type of antenna would be neededThe type of radio automation software that will be usedIn India the FM radio commercial licences are awarded through open bidding process, if there are more than one application for the advertised city or area. The investment is determined mainly on the basis of the quality of FM Station as well as the current Market price. You may find more details on these from the official website of Ministry of Information and Broadcasting, section
http://www.mib.nic.in/. Hope this piece of information is of some help.
