The existing FDI caps and entry routes in the print and broadcasting sectors would continue for the time being as the information and broadcasting ministry is awaiting the views of Telecom Regulatory Authority of India (TRAI) and the Press Council of India (PCI) on these issues in the broadcasting and print media.
The ministry in a statement said it has sought the views of TRAI and PCI and as the process of consultations would take time, it has communicated to the 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.
A few weeks ago a committee headed by Economic Affairs Secretary Arvind Mayaram had recommended increasing the FDI limit in broadcasting sector and print media to 49 percent from 26 percent now under the automatic route, without going through the Foreign Investment Promotion Board (FIPB).
The ministry said that on receipt of the draft consultation paper on FDI Caps, it undertook comprehensive consultations with stakeholders in the print and broadcasting sectors to elicit their views on the issues concerned.
The Indian Newspapers Society (INS) has sought additional time to give their comments, while the News Broadcasters Association (NBA) has not furnished their comments till date.
In view of the given position, the ministry said it has felt the matter be referred to TRAI and PCI for seeking their comments.