Thursday 18 July 2013

MIB seeks stakeholders comments on FDI

Government is looking at increasing the FDI caps in some sectors including broadcasting to cover-up the current account deficit which is piling up to a dangerous level. A committee headed by Secy Economic Affairs, Arvind Mayaram has given its recommendations and now ministries are to give their views. Consequently the Ministry of Information and Broadcasting (MIB) held a meeting on June 29, 2013 in New Delhi with industry stakeholders.
The meeting attended by MIB officials and many stakeholders from print, radios and TV debated on the proposal of the Ministry of Finance regarding revision of FDI caps in various segments in broadcasting and print sector. As is known, the Arvind Mayaram Committee has recommended raising the foreign investment limit from 26 per cent to 49 per cent in sectors such as print and television media (news), and FM radio.

The meeting was attended by KVL Narayan Rao, President, News Broadcasting Association; Man Jit Singh, President, Indian Broadcasting Foundation; Ashok Mansukhani, President, MSO Alliance; Tarun Katial, Senior Vice President, Association of Radio Operators for India; Harit Nagpal, President, DTH Association; and Kartikey Sharma, President, Association of Regional Television Broadcasters of India, among others. Maheshwar Peri, Chairman, Pathfinder Publishing India and R Rajmohan, Publisher, Open magazine represented the print fraternity at the meeting. Representing the Government were Minister of Information and Broadcasting Manish Tewari and Uday Kumar Varma, who has just retired as the Secretary, MIB.
The stakeholders expressed their diversified views on the Government move to increase the percentage of foreign direct investment. While some of them supported the initiative, a few were against it.
According to official sources, diverse viewpoints emerged and there was no unanimity over this issue. While some people were strongly in favour of raising the cap, certain other sections were equally strongly opposed to the idea. Now stakeholders have been requested to send their views articulated on this issue in writing to the ministry as soon as possible so that it could finalise its proposal suggested by the stakeholders on raising the FDI caps in various sectors of broadcasting.

Source: http://cablequest.org/news/government-news/item/2833-mib-seeks-stakeholders-comments-on-fdi.html
Source: http://cablequest.org/news/government-news/item/2833-mib-seeks-stakeholders-comments-on-fdi.html

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