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Govt to decide on FDI in media before April 2000

Minister of State for Communications Tapan Sikdar today said the Union Cabinet will decide on foreign investment in print media at an ''appropriate time''.

The decision on foreign invesment in the print media ''may be taken by the Cabinet within this financial year'' Sikdar said.

''We are for the best technology at the lowest price and for healthy competition in the print media,'' Sikdar said.

Stating that he as communications minister has no problem in allowing foreign investment in print media, Sikdar said the final decision in this regard will be taken by the Cabinet.

Information and Broadcasting Secretary Y N Chaturvedi had stated during an interactive session at the India Economic Summit in New Delhi on December 7 that the government is expected to consider afresh within the next few weeks whether or not to allow FDI in the print media. This could lead to relaxation of controls on the entry of foreign media, Chaturvedi said.

He felt a consensus had now been reached among policy-makers on the need to relax restrictions on the entry of FDI into the print media.

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