Telecom regulator asked to give views soon on media FDI caps

New Delhi: The information and broadcasting ministry has requested Telecom Regulatory Authority of India (TRAI) to speed up its response on the existing sectoral caps of FDI in the broadcast sector, an official release said.

The ministry has also urged Press Council of India (PCI) to give its advice soon on the proposal to increase the FDI in print media.

In its communications to TRAI and PCI, the ministry has sought comments regarding the paper prepared by the finance ministry relating to revision in existing FDI caps in the two sectors.

The finance ministry paper has proposed to raise the existing FDI cap of 26 per cent through Foreign Investment Promotion Board (FIPB) route to 49 per cent through automatic route in the news sector. In the non-news sector, the existing FDI cap is 100 per cent through FIPB route which has been proposed to be 100 percent through automatic route without the requirement of FIPB approval.

The ministry has said last month that it had sought the views of TRAI and PCI on the caps in the broadcasting and print media.