Industry chambers welcomed the Cabinet decision to allow 26 per cent foreign direct investment in news and current affairs print media and 74 per cent in other print media, but also warned that a cautious approach was needed in this regard.
The Confederation of Indian Industry (CII) said the decision was a bold step and would enable print publications to access funds, especially from financial institutions that had foreign equity. The CII also said the decision would introduce an element of competition and force publishers to improve the quality of their publications.
The CII complimented the government on the well-crafted safeguards relating to editorial and management control.
The Assocham extended a cautious welcome to the decision.