FDI In Print: exchange4media Poll Results
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.  Read more...

Chart 1: Poll Result Summary

 Chart 2: Profile of Participants favoring FDI: By Organization
 

47 years later, nanosecond advances in information dissemination are not enough to change the outlook
On Tuesday, Parliamentary Standing Committee on Information Technology voted against the entry of foreign direct investment in Indian print media. This holds the 1955 Cabinet Resolution, forbidding foreign investments, relevant for today's age. Sadly, the otherwise champion of plurality, competition and global economy- the monopolies within the Indian press, has shirked from this moment of truth (01/03/02)
Read more...

INS considering support to Foreign Direct Investment
Indian Newspaper Society is reviewing its decades old stand on opposing Foreign Direct Investment (FDI). In a letter to all the INS members, Mr. Pratap Pawar, the President of the INS acknowledges that there is a growing support for the FDI among the members. (04/03/02)  Read more...
 
In a letter, dated 21 February 02, to all INS Members, the INS President noted the differences of opinion amongst the Executive Committee members on the issue. To help Executive Committee make up its mind, he urged the members of Society to share their thoughts on this issue. Read arguments offered for and against the issue...
Against :
  		• "Freedom of speech and expression, a Fundamental Right, is available to Indian Citizens only"
  		• "The Indian Press has a commitment to the Indian Polity..."
  		• "...strategic importance, being next only to defence, nuclear energy and the space programme."
  		• "Entry of foreign capital... would change the demand for Journalists and Non-Journalists employees and their remuneration."
  		• "Print media has a higher and lasting impact on our sentiments and opinion formation than the electronic media"
    For :
  		• "Indian print media companies have been denied permission to get resources even from Indian Companies such as ICICI, ect because they are having minority foreign share holdings in their equity."
  		• "Print media has become an industry and needs huge resources..."
  		• "In the Articles and Memorandum of Association of print media companies a clause can be incorporated that total editorial control will remain in the hands of Indians only..."
  		• "Television which is much more powerful media than print has got 100% FDI..."
  		• "Minority foreign investment cannot influence the Editorial Policy because controls always remains with majority..."

     
    Some of the comments on the issue shared with us while polling. Reproduced with permission.

    "exchange4media has set out the argument very cogently. There is actually no reason to disallow FDI except that the politicians dont want to confront the press moguls."
    Mohini Bhullar - INDIA TODAY GROUP
    "I don't think the government should try to undermine the intelligence of the citizens, given their own track record in leading the country!!!"
    Ashish Marwah , Account Director, Bates India
    "Let them come. They will sell newspapers for Rs 20 per piece. Charge you guys $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 20-30 crores by 20-30 million dollars. I think Indian publishers should goto European and Amrican markets to reap benifits of editorial quality"
    Divesh Nath, Director, Delhi Press