No decision on FDI in media
New Delhi: As the government on Tuesday increased FDI in areas like telecom and insurance, a key decision on raising foreign investment in the sensitive media sector remains pending as the Information & Broadcasting Ministry has sought advice from TRAI and Press Council on the matter.
The ministry which had initiated a consultation process on the proposal by Department of Industrial Policy and Promotion (DIPP), decided to forward the issue related to permitting more FDI in broadcasting sector to TRAI and in print sector to the Press Council of India.
"We have not taken any view on media," Commerce and Industry Minister Anand Sharma told reporters.
The I&B ministry had earlier informed DIPP that consultations with TRAI and PCI would take time so existing limits of FDI caps and entry routes may continue.
Officials said there was a view that TRAI, being the broadcasting sector regulator, had to be consulted on account of the likely impact of the proposal on the sector.
Earlier in 2012, foreign investment limits in broadcasting sector were revised based on TRAI recommendations.
The proposal to increase FDI is learnt to have suggested raising the foreign investment 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.