With divergent views emerging from industry stakeholders on the issue of revising Foreign Direct Investment (FDI) limit in news broadcasting and print, the Ministry of Information and Broadcasting has suggested that it should remain unchanged for the moment.
It has decided to seek recommendations of telecom and broadcast regulator Telecom Regulatory Authority of India (TRAI) on the proposal for the news broadcasting category. The Ministry has also asked Press Council of India to give its suggestions for the print sector.
“As the process of consultations with both TRAI and PCI would take time, the Ministry has communicated to Department of Industrial Policy and Promotion (DIPP) that the existing limits of FDI caps and entry routes in the print and broadcasting sectors may continue and status quo in the interim be maintained as prescribed in the consolidated FDI Policy 2013,” the Ministry said in a statement.
Consultations were on with stakeholders in the print and broadcasting sectors on whether the FDI caps in news broadcasting and print should be increased from the current 26 per cent to the proposed 49 per cent. However, the Ministry said that due to divergent views, the issues remained inconclusive.
It also said that Indian Newspaper Society had sought additional time while News Broadcasters Association has not submitted its comments till date.
In the past, TRAI’s recommendation had been sought on raising FDI caps in the DTH and digital cable sector. Last September, FDI caps were raised in the DTH and digital cable sector to 74 per cent from 49 per cent.
Meanwhile, I & B Minister Manish Tewari chaired the meeting of the Consultative Committee of the Ministry on Monday, in which members were given a presentation of the Leveson Report. The activities of the Indian Institute of Mass Communication were also discussed.