NEW DELHI: Information and broadcasting (I&B) ministry has sought the views of regulator Trai and Press Council of India (PCI) on an increase the cap on FDI in media. This was described as a consultation process by ministry sources who said that nothing was being changed right now.
Earlier, a committee headed by economic affairs secretary Arvind Mayaram had recommended an increase in the FDI limit in print media from 26% to 49%. The same cap was proposed for FM Radio, uplinking news and current affairs channels. For broadcasting carriage services, specialized magazines and facsimile editions of foreign newspapers, the committee had suggested 100% FDI.
The ministry had sought views of stakeholders in the print and broadcasting sectors recently but media organizations asked for more time to respond. The Indian Newspapers Society (INS) and the News Broadcasters Association had sought additional time to give their comments but have not done so far. "During the consultations divergent views emerged on the issues leading to the issues remaining inconclusive,” a ministry statement said.
The statement added that the ministry has written to the department of industrial policy and promotion (DIPP) that the existing limits of FDI caps and entry routes in the print and broadcasting sectors should continue and status quo in the interim be maintained.
In view of the ongoing discussions, the ministry said it has felt the matter be referred to Trai and PCI for their comments.