GOVT STUDYING FDI IN MEDIA IN OTHER COUNTRIES

NEW DELHI: The NDA government plans to do a “comparative study” of foreign direct investment (FDI) in print media in some major countries “on a priority basis” even as it mulls options to expand the scope of FDI in this sector in India.

It comes about three months after the NDA regime decided to review “sectoral FDI caps” in media and referred the issue to an inter-ministerial panel. At present, FDI in certain sections of the print media is limited to 26%.

According to an official note on the “actionable points” discussed at a recent meeting of the information and broadcasting ministry, status of foreign news agencies and other details of permission given to them for their operation within India would also be “put up for review”.

“Comparative study of five to six countries consisting of Japan, Australia, New Zealand, US and the UK vis-à-vis India to be made on foreign direct investment on a priority basis,” stated the note. The meeting was chaired by I&B secretary Sunil Arora.

The government also plans to compile details regarding FDI in print media “along with examples of various sectors...such as scientific/ technical/ specialty magazines, facsimile edition of foreign newspapers, Indian entities publishing magazines dealing with news and current affairs.”

This move comes in the backdrop of the Modi government’s decision to start internal discussions on whether to allow more global capital in the fast-growing media sector, including in the print and broadcast news segments.

THE GOVERNMENT ALSO PLANS TO COMPILE DETAILS REGARDING FDI IN PRINT MEDIA IN ALL ITS ASPECTS