It is an overwhelming Yes. Over 80% of polls were cast favoring the infusion of foreign funds in over protected Print sector. The participants were a cross section of media professionals including heads of leading print houses. However, INS, nodal body of publishers, believes that the most print publishers are against allowing FDI in print. INS President Pratap Pawar shared with exchange4media that he believe 'overwhelming majority of Publishers are against FDI.'

The topical poll, which ran on exchange4media for about a month, drew a massive response. Over a 1,000 communication professionals, cutting across organizations and hierarchies, polled. 81% of polls were cast in favour of allowing FDI in print. 30% of these participants were from media houses including heads of the largest magazine and newspaper group. Several participants were from regional print players exhorting for allowing FDI. Media and Advertising professional, (categorized in Agencies below) constituting 21% of voters, were largely in favor of allowing FDI.

Chart 1: Poll Result Summary

Polling for FDI and reacting to our editorial on the issue Mohini Bhullar of India Today wrote, "exchange4media has set out the argument very cogently. There is actually no reason to disallow FDI except that the politicians don't want to confront the press moguls."

Wrote another firm believer, working for an Internet media company, "FDI in print will mean fairer and more competitive market for the print media. For media marketers and other professionals it would mean more opportunities. The print media has been strangulated with media barons for too long and there aren't too many truly professionally managed companies in this space."

Surely not everybody is convinced. Commented a critical Divesh Nath, Director Delhi Press, "Let them come (foreign publications). They will sell newspapers for Rs 20 per piece. Charge $400 per cc. Lets see how many takers there will be. A full page colour in Vogue cost US$77,000 and the magazine cost $3.00 on news-stands. These guys are not used to profits of Rs 20-30 crores but 20-30 million dollars."

Chart 2: Profile of Participants favoring FDI: By Organization

As reported earlier, INS Executive Committee met in Delhi on 6th March to take stock of situation. INS President Pratap Pawar had written to all members wanting their feedback on this issue. To know INS's take on the issue and share our poll results exchange4media met up with Pawar that very day. Said a nonchalant Pawar, "Yes, FDI was briefly discussed in the meeting. An overwhelming majority of publishers believe that FDI should not be allowed. So I guess the issue stands settled for the moment." We then shared with him the topline poll results and promised to share the details when we close the poll. Hope he is reading this! To be fair, it was a bold decision on his part to write to member publishers asking for their views. He even attached extensive notes by the champions of two sides; N Ram of Hindu wrote prorogating against FDI and M J Akbar of Asian Age wrote in favor of allowing FDI.

Well, in the end it seems to be a mind game. What we believe FDI can do and should not do. As a participant summed up the whole issue emotionally, "It shall be like allowing an Amercian president to rule India, just because the American president may be more efficient!"