10 Reasons Why FDI Should Be Allowed In Print Media

BY S.Raghotham| IN Law and Policy | 10/04/2002

* Americanization of mass culture worldwide is bad enough

* Americanization of mass culture worldwide is bad enough.
* Blatant interference by media groups in politics. E.g.: Murdoch in UK politics.

- Reasons mentioned by the Times of India editorial on 20 Nov 2000

"There is nothing the average reader would gain by allowing foreign entry into print. On the other hand, there is the danger that issues that are at the very heart of nation-building - sovereignty, national integrity, and, yes, to a certain extent, even culture - could fall prey to the machinations of vested interests."

"Globally, the newspaper business today is one of the less attractive businesses to invest in. Consequently, any investment that comes is likely to be driven more by collateral interests - the desire to influence public opinion, present a one-sided view, maybe - than by pure commercial interests."

- Excerpted from an editorial in The Economic Times

"Freedom of the press is interlinked with its economic independence, which will be lost the moment foreigners get a stake in the equity. Restricting them to a minority stake is no solution because benami deals can be entered into. Foreign investors can hardly be expected to have any commitment to India, or Indianness, their prime motive being profit-making." - Mathew Mammen, president, Editors` Guild of India, writing in the Times of India.

Validity: Funny, a company that has turned its newspaper into a `product` should worry about issues

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