Information and Broadcasting Minister Manish Tewari on Friday said the process of consultation on the proposal to increase foreign direct investment (FDI) limits in media is still under way.
Asked if the Ministry had formulated a view, he said, “The media houses are still coming back to us with representations and once we get all the feedback, we will sit down and take it into our purview.”
The Ministry also met the representatives of media houses last Saturday to take their views on whether FDI in media should be increased. For news channels and newspapers, the current cap for FDI stands at 26 per cent. A panel, headed by Department of Economic Affairs Secretary Arvind Mayaram, has suggested raising the FDI limit in newspapers and news channel to 49 per cent.