Should the FDI in media be increased or decreased from current 26%?
Should the FDI in media be increased or decreased from current 26%?
The current FDI in media is 26%. Should it be increased or decreased? Take a stand and provide reasons.
Entertainment and media industry is gaining immense significance in India. Media and entertainment such as films, television, advertising, prints media and music industry among others are growing rapidly in India. This sector is expected to grow at a compound annual growth rate (CAGR) of 14.2 per cent over 2013–18.
Foreign Direct Investment percentage varies in different industries within the rubric of media, like for Film Industry, and trade publication and entertainment, it is 100 percent. In Print Media, FDI is upto 26%, i.e. for publishing newspapers and periodicals dealing in news and current affairs media. And the question here is choosing to increase on this percentage. The minister concerned has raised an open debate on the same.
The industry grows apparently with each passing day and plays a critical role in creating awareness on several issues that impact the masses. Media is an opinion maker, we can't blindly give this important instrument in the hands of foreigners. Giving open doors to them is like setting up a pyre for oneself, by giving them chance to mend our views.
Western media outlets could start setting the agenda in India.This could be dangerous for our democracy. Quoting an incident here, what if during The Taj Mumbai terrorist attack, an uncensored media in the hands of foreign corporate, telecasted every minute detail? Won't it create a question about our national security?
The BJP government itself, when in opposition till last year, was against 100% FDI in media. There is an issue of paid news. One is related to the elections, it could bring major changes in the final results for India.
There is also an issue, if the media is owned by the private houses. I & B Minister Javadekar said “The issue is if the corporate houses have their stakes in business newspapers and in case they publish news relating to their own ventures in those newspapers then should they declare them as private treaties?"
FDI in media can be similar to foreign forces pumping money through NGOs to the newspapers and TV channels now. There is currently deficiency in the transparency of the money inflows. Even today, we have no idea who is making our opinions. If the FDI gates are open, we will loose any further chance of knowing.
Indian media is already ridiculed as ever ready to sell news for use.
Other than this issue, a problem of Cultural Invasion may occur. We couldn't stop blind westernisation in the name of modernisation. How will we ensure further deterioration of our cultural values won't take place?
There is a small possibility for viewers, as it will bring competition from foreign investors, the quality of content shown on the television will be improved many-fold. Many people do think that it is time, Indian Corporate media faces competition from foreign media, so that they can then expect richer content, reach & more capital for the industry.
Even before thinking about opening media to 100% FDI, we need to strengthen our watchdogs. These will police the media houses strictly, preventing any discrepancies in integrity and sovereignty of the nation. This will also resolve doubts and uncertainties about national security when it comes to media industry.
