MUMBAI: In response to the draft consultation paper of the Ministry of Finance on FDI Caps in the Print and Broadcasting Sector, the Information & Broadcasting Ministry (MIB) has sought the recommendations of TRAI for issues related to the Broadcasting Sector and has sought the comments of the Press Council of India for matters concerning the Print Media.
In a release issued Monday 15 July MIB said 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.
Earlier, on receipt of the draft consultation paper on FDI Caps, the Ministry undertook comprehensive consultations with stakeholders in the Print and Broadcasting Sectors to elicit their views on the issues concerned. During the consultations, divergent views emerged leading to the issues remaining inconclusive. It may be pointed out that while the Indian Newspaper Society (INS) have sought additional time to give their comments, the News Broadcasters Association (NBA), has not furnished their comments till date. In view of the given position, the Ministry has felt that the matter be referred to TRAI and PCI for seeking their comments.
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It may also be pointed out that TRAI being the regulator for the Broadcasting and Cable Services needs to be consulted as in the past on account of the likely impact of the proposal is expected to have on the Broadcasting Sector as a whole. On 20th September, 2012, the foreign investment limits of various segments in broadcasting sector were revised based on TRAI recommendations. TRAI had gone through the due process of consultations with the stakeholders before it made its recommendations.
