The Hindu : New Delhi News : No more FDI in media: CPI

Online edition of India's National Newspaper
Monday, Jan 24, 2005

New Delhi

New Delhi

No more FDI in media: CPI

By Our Special Correspondent

NEW DELHI, JAN. 23. The Communist Party of India (CPI) yesterday opposed any increase in foreign direct investment (FDI) in the media. At present, the FDI stands at 26 per cent.

A delegation, headed by the party general secretary, A.B. Bardhan, and the secretary, D. Raja, met the Home Minister, Shivraj Patil, who is heading the Group of Ministers on FDI in print media. The delegation told him that news and views were not like any other commodity and the media had the power and capacity to condition the thinking of people and influence their opinions.

Not in national interest

With the ownership of media houses passing into the hands of large corporates, a further increase in the FDI would not be in national interest. The CPI leaders told the Minister that there should not be any dilution of the Cabinet Resolution of 1955 under which foreign agencies are required to distribute their news in India through Indian news agencies. In fact, this resolution should be strengthened in the interest of domestic agencies, they said. The party said the Government would need to initiate legislative measures to stop publication of foreign journals such as the International Herald Tribune in the country. The party also voiced its opposition to increasing the volume of syndicated material from abroad.

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