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I&B Ministry seeks views of TRAI, PCI on revised FDI caps

NetIndian News Network

New Delhi, July 15, 2013

The Union Information & Broadcasting Ministry has sought the recommendations of the Telecom Reglatory Authority of India (TRAI) on issues related to foreign direct investment (FDI) caps in the broadcast sector and the comments of the Press Council of India (PCI) on matters concerning the print media.
This is in response to the draft consultation paper of the Ministry of Finance on FDI caps in these sectors, an official press release said.
The release said that, 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.
According to the release, during the consultations, divergent views emerged leading to the issues remaining inconclusive.
While the Indian Newspaper Society (INS) has sought additional time to give their comments, the News Broadcasters Association (NBA) has not furnished its comments till date. In view of the given position, the Ministry felt that the matter be referred to TRAI and PCI for seeking their comments, the release said.
The release 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 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, the release added.
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