Monday, July 15, 2013

I&B seeks advice on media FDI

The information and broadcasting ministry has sought the recommendations of Telecom Regulatory Authority of India (TRAI) and Press Council of India on a proposal to increase FDI in the media sector by the department of industrial policy and promotion (DIPP).
Speaking to this newspaper I&B minister Manish Tewari did not rule out an increase in the FDI cap. "But we would like to take a decision on the basis of informed consultations," Mr Tewari added.
A ministry official stated that it had sought TRAI recommendations on issues related to the broadcasting sector and Press Council's views for matters concerning the print media.
It is learnt that the ministry has communicated to DIPP that existing limits of FDI caps and entry routes may continue and status quo in the interim be maintained as prescribed in the consolidated FDI Policy 2013 till the consultation process is completed. During earlier consultations with stakeholders, in the print and broadcasting sectors divergent views had emerged leading to the issues remaining inconclusive.
"It may be pointed out that while Indian Newspaper Society have sought additional time, the News Broadcasters Association (NBA) has not furnished their comments till date," a ministry statement said. It said TRAI, being the broadcasting sector regulator, had to be consulted on account of the likely impact of the proposal on the sector.