New Delhi, Jun 2 (UNI) Print media has been unaffected by the boom in electronic media and had rather grown further both in terms of circulation and readership, Minister of Information&Broadcasting P R Dasmunsi said here today.
Speaking at a meeting on 'Growth of Print Media in Liberalized Economy' of the Consultative Committee, attached to his Ministry, he said in view of increasing literacy, there was a possibility of more growth and expansion of print media in future.
He emphasised the need to encourage quality journalism and further strengthening of the Press Council of India.
The Minister said liberalisation in the print media sector was catalysed in June 2002, when the Government allowed 26 per cent Foreign Direct Investment FDI into Indian entities engaged in publishing newspapers and periodicals in the news and current affairs sector, 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.
In the last five years, the Ministry has given approvals for publication of 284 magazines in this sector. While an overwhelming number of these pertain to the scientific and technical categories, a good number relate to the specialty sector pertaining to general reader interest like lifestyle, entertainment, etc, Mr Dasmunsi pointed out.
In a detailed presentation on the growth trend in print media, the Ministry pointed out that according to the survey of 'India Media&Entertainment Scenario' conducted jointly by FICCI&PriceWaterhouse Coopers, this industry stood at Rs 149 billion in year 2007 and recorded a growth of 16 per cent over pervious year.
During the same period, magazine industry size was estimated at Rs 19 billion and it registered a growth of 15 per cent during the year 2007.
According to the same study, Indian print media was projected to grow by 14 per cent over the next five years. The magazine publishing was projected to grow at a higher rate of 15 per cent, while newspaper-publishing market to reach Rs 243 billion.
Those who attended the meeting included Kirip Chaliha, S.
Mallikarjunaiah, Hannan Mollah, Mahendra Prasad Nishad, Bhartruhari Mahtab, Bharatkumar Raut, Balwant alias Bal Apte, Dr V Maitreyan, all MPs, besides senior officers of the Ministry.
UNI NAZ PY BST2004