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NEW
DELHI: Information and Broadcasting Minister Priyaranjan Dasmunsi
today asserted that the print media had grown in terms of
both circulation and readership despite the huge growth of
the electronic media.
Speaking
on ‘Growth of Print Media in Liberalized Economy’
in the Consultative Committee of members of Parliament attached
to his Ministry, the Minister said increasingly literacy had
led to growth and expansion of print media. He stressed the
need to encourage quality journalism and strengthen the Press
Council of India.
The
Minister said liberalization in the print media sector was
catalyzed in June 2002 when the Government allowed 26 per
cent foreign direct investment into Indian entities engaged
in publishing newspapers and periodicals in the news and current
affairs sector, and 100 per cent FDI into Indian entities
engaged in publishing specialty/scientific/technical magazines
and publication of Indian editions of foreign specialty/scientific/technical
magazines.
He
said in the last five years, the Ministry had approved publication
of 284 new magazines with the help of FDI. While an overwhelming
number of these pertain to the scientific and technical categories,
several relate to the specialty sector pertaining to general
reader interest like lifestyle, and entertainment.
In
a detailed presentation on the growth trend in the Print Media,
the Ministry pointed out that according to the survey of ‘India
Media & Entertainment Scenario’ conducted jointly
by FICCI and PriceWaterhouse Coopers, the print Media industry
stood at Rs. 149 billion in the year 2007 and had recorded
a growth of 16 per cent over the pervious year. During the
same period, the size of the magazine industry was estimated
at Rs 19 billion and registered a growth of 15 per cent during
the year 2007. According to the same study, the Indian Print
Media is projected to grow by 14 per cent over the next five
years and magazine publishing will grow at a higher rate of
15 per cent. During the same period, newspaper-publishing
market would reach Rs. 243 billion.
MPs
who attended the meeting included Bhartruhari Mahtab, Kirip
Chaliha, S. Mallikarjunaiah, Hannan Mollah, Mahendra Prasad
Nishad, , Bharatkumar Raut, Balwant alias Bal Apte, and Dr.
V Maitreyan, apart from senior officers of the Ministry.
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