49 per cent FDI in print media safe: Ambika Soni
New Delhi: With the media reeling under the financial crunch, Information and Broadcasting Minister Ambika Soni has backed increasing FDI (foreign direct investment) in print media to 49 percent, saying "it is safe".
"I think it is a good suggestion," Soni said in an interview when asked about her views on increasing FDI in print media from 26 percent to 49 percent.
"We already have 26 percent FDI. A large number of newspapers and the entire journalist fraternity is for the infusion of more capital into print media so that they can have better working conditions, and the media is facing a financial crunch," she said.
"I feel 49 percent is safe. It would not give control to someone from outside," she said.
Soni, however, stressed that the government will consult all stakeholders before taking this crucial decision. "But this is something about which I would like to talk to those who are not of the same view," she said.
Soni`s remarks indicated the UPA government`s interest in raising the FDI ceiling in print media from 26 percent to 49 per cent as recommended by the Telecom Regulatory Authority of India (TRAI) in its recent report.
The 49 percent FDI, as proposed by TRAI, also covers foreign institutional investors. TRAI has also recommended a raise in the ceiling for cable networks from the existing 49 percent to 74 percent and for FM radio, from the existing 20 percent to 49 percent.
The proposed hike in FDI is being opposed by some media houses, but the government is looking at the issue afresh in the light of the capital crunch that small and medium newspapers are facing.
More from India
More from World
More from Sports
More from Entertaiment
- Kejriwal knew Tomar possessed fake degree, says Yogendra Yadav
- Ajinkya Rahane to captain India on Zimbabwe tour; Dhoni, Kohli rested
- Shiv Sena slams HC order banning erection of pandals on roads
- Top leader of NSCN(K) arrested for Manipur attacks by NIA
- Kejriwal's electricity bill exceeds Rs 1 lakh in two months: RTI
- India vs Zimbabwe: Ajinkya Rahane to lead; MS Dhoni, Virat Kohli rested
- Tihar Jail's security breached: Lt Governor Najeeb Jung orders probe, Centre seeks report
- Chinese military research academy praises India's main battle tank Arjun, says it's 'very good'
- Gangster Abu Salem ready to tie the knot with girl seeking to marry him
- Vijender Singh brings down curtains on India career, turns professional