Growth of electronic media has not affected print media, which in fact has actually grown further both in terms of circulation and readership. This was stated by the Minister of Information & Broadcasting, P. R. Dasmunsi at the meeting on ‘Growth of Print Media in Liberalized Economy’ of the Consultative Committee, attached to the Ministry of Information & Broadcasting today. He said that in view of increasingly literacy, there is a possibility of more growth and expansion of print media in future. He said there is a need to encourage quality journalism and further strengthen of Press Council of India.
“liberalization in the print media sector was catalyzed in June 2002 when the Government allowed 26% FDI into Indian entities engaged in publishing newspapers and periodicals in the news and current affairs sector, 100% FDI into Indian entities engaged in publishing specialty,scientific,technical magazines and publication of Indian editions of foreign specialty,scientific,technical magazines , ” P.R.Dasmunsi said.
Dasmunsi said that 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.
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, Print Media 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 registered a growth of 15 per cent during the year 2007.
According to the same study, Indian Print Media is project to grow by 14 per cent over the next five years and magazine publishing to grow at a higher rate of 15 per cent. During the same period, newspaper-publishing market would 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 of I&B.