The government is likely to decide on revision of uplinking norms for television news channels and printing of foreign newspapers in India within the next three weeks.
The Information and Broadcasting Ministry has already prepared a note on downlinking guidelines for all TV channels, Phase Two of privatisation of FM radio and a liberalised community radio regime for the consideration of the Cabinet.
"The Information and Broadcasting Ministry has readied Cabinet notes on five issues and will send its recommendations to the Cabinet this week. Decisions are expected in three weeks' time," I&B Minister S Jaipal Reddy said on Tuesday.
The minister said a group of ministers (GoM) has recommended allowing foreign newspapers to print from India through the FDI route. "The Cabinet would take a call on it soon," he said.
Leading newspapers and journals awaiting a decision include The Wall Street Journal, International Herald Tribune (which is already printed in India), Financial Times, Business Week, The Mail, and Fortune.
In another significant move for the print media, the government is also contemplating increasing the seal on syndication content from the present 7.5 per cent to 20 per cent.
"The foreign media content in Indian newspapers will also be raised from 7.5 per cent to 20 per cent," he said.
In FM radio too, foreign investment could be opened up further. Currently, FDI is not allowed, but up to 20 per cent of FII funds are permitted. Mr Reddy said that foreign investment in newspapers could also be through the FII route.
Currently, news channels have a 26 per cent FDI cap and are not allowed any FII holding. "In the next one month, the ministry is going to witness a flurry of activity," Mr Reddy said.
