[Reader-list] 'Media opportunities'

[Shivam]

  Media opportunities
  
  [Byline strangely missing!]
  Business Standard | 8 October  2004
  http://www.business-standard.com/common/storypage.php?hpFlag=Y&chklogin=N&autono=169291&leftnm=lmnu5&lselect=0&leftindx=5
[why does this link have to be so long?]

The Prime Minister has done well to clarify that his government
intends to open up the media sector. Speaking in the capital a few
days ago, and again in Mumbai on Wednesday, Dr Manmohan Singh has
clearly held out the promise of reform in a sector where even the most
limited opening up was subjected to intense debate and polarised
opinions.
 
But as a report in this newspaper today tells us, Reuters, one of the
world?s largest media organisations, is moving something like a tenth
of its global manpower to India.
 
Clearly, the media sector has enormous opportunity for growth and
diversification?and job creation. The opportunities for using the
knowledge base and skills of English-speaking professionals, who can
do at a fraction of the cost what is done in other markets, create a
whole new world of outsourcing possibilities which should be fully
exploited.
 
Also, some of the investment rules could do with change. For instance,
there is no particular reason why foreign direct investment should be
allowed, but not portfolio investment by foreign institutional
investors.
 
This change is now proposed for TV news channels, but what applies to
TV should apply equally to other forms of media. Equally, there is no
particular reason why reputable titles published elsewhere should not
be allowed to get printed in India.
 
This is completely banned at the moment, and the subject of a court
dispute in one contentious case.
 
The fact is that if proper scrutiny is done before allowing entry, the
existence of international titles in the Indian market will add to the
diversity and richness of India's media market, make global titles
available here at a fraction of their current cost, and in general
help develop higher professional standards. Readers will benefit, and
many jobs will get created.
 
What about the old concerns about national security and sovereignty?
The security issue was always a red herring, given the fact that all
manner of international television and radio channels beam into India
round the clock - without national security being affected.
 
In any case, this is easily handled by applying selection criteria to
ensure that only the most reputed international players get a toehold
in the print media market.
 
Suspect publications from Pakistan, China, or any other region
considered undesirable in this context, can be easily kept out. The
sovereignty issue is not a serious problem because no publication can
hope to survive and prosper in the Indian market if it adopts
anti-Indian editorial positions.
 
Indeed, giving global media organisations a greater stake in the
Indian market will sensitise them more to Indian viewpoints, and get
India greater mileage in the international media.
 
In short, the group of ministers that is proposed to be appointed for
studying the issue, should get down to its task without delay.