In view of divergent views of various stakeholders on increasing FDI cap in print and electronic media, the Information and Broadcasting Ministry on Monday put the matter to the backburner and referred it to the Telecom Regulatory Authority of India and the Press Council of India.
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) of the Finance Ministry that the existing limits of FDI caps and entry routes in the Print and Broadcasting Sectors may continue and status quo be maintained as prescribed in the consolidated FDI Policy 2013.
Earlier, the Ministry had received the draft consultation paper of the Finance Ministry on FDI Caps suggesting raising the FDI limit from 26 per cent to 49 per cent in print media, FM Radio, uplinking news and current affairs channels and to hundred per cent in broadcasting carriage services and printing of specialised magazines and facsimile editions of foreign newspapers.
The Ministry undertook comprehensive consultations with stakeholders to elicit their views but divergent views emerged. The Indian Newspaper Society (INS) has sought additional time to give their comments while the News Broadcasters Association (NBA) has not furnished their comments till date.
So, it decided that the matter be referred to TRAI which as the regulator for the Broadcasting and Cable Services. In the past also as on September 20, 2012, the FDI limits of various segments in broadcasting sector were revised based on TRAI recommendations.
Meanwhile, the Consultative Committee of the Ministry suggested improving proposed Urdu journalism course by enhancing its duration and content. Members demanded cultivating more courses in regional languages at regional centres to augment growth of language journalism.
They emphasised the need to introduce new courses for both print and electronic media in the areas of management, financial management, technology, business management in the media industry.
Chairing the meeting I and B Minister Manish Tewari said that the Government proposed to declare IIMC as an institution of National importance through an Act of Parliament. He also highlighted the steps taken to upgrade its capacity in the domain of research and evaluation, training and capacity building.