To make foreign investment in news media more attractive, the Centre is considering various options, including relaxing the foreign direct investment limit.

Speaking at the CII Big Picture Summit, Minister of State for Information & Broadcasting, Rajyavardhan Singh Rathore said the government is thinking about steps that it can take to attract more FDI in news and is in consultation with the industry.

“Can’t really say that we are going to make it happen in a given timeframe, but the very fact that we have started thinking about it, means we have started moving ahead,” he added.

So far, 26 per cent FDI is allowed in print media and news channels. Following the recommendations of the Mayaram Committee, the UPA government had considered increasing FDI caps in several sectors, including broadcasting. Various consultations were held with the stakeholders and industry bodies on the same in 2013. However, the industry was divided and no decision was taken.

News on FM

The Minister said private FM radio will be allowed to broadcast news sourced from All India Radio.

While Phase-II of FM radio auctions did not have provision for news broadcast, this was changed in Phase III auctions.

He said subjects local events, weather and sporting events have been identified as non-news content for radio stations to make the sector more vibrant.

Film fund

The government, Rathore said, is also looking at setting up a film fund, or a corpus of financial assistance, to help movies compete at international film festivals and for awards. He said Prime Minister Narendra Modi has given an in-principle approval for setting up the corpus for financing publicity campaigns at international awards and film festivals. “There is no lack of talent in producing the films… what the films may be lacking is funds for campaigning and networking,” he said.

Rathore added that the government is working to put in place a single window clearance through the National Film Development Corporation for international film-makers looking for approvals to shoot movies in India.

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