Minister of State for Information and Broadcasting Prakash Javadekar on Thursday made a strong commitment for the government to be "partner in progress" with the growth of the media and entertainment (M and E) industry.
In his first major interaction with top decision makers at the CII CEOs Roundtable on Media and Entertainment, Javadekar also said a transparent mechanism and decision making on policy initiatives pending with his ministry would be prioritised.
He said the potential of the Indian M and E industry is untapped, and endorsed the CII vision of taking the Indian M and E industry to USD 100 billion by the end of this decade.
Forty top CEOs of the M and E sector interacted with Javadekar and were confident that pending decisions will not be further delayed by the new government.
Issues related to broadcast, films, DTH, cable, radio, print, news broadcast were briefed by industry leaders at the CII Roundtable.
Also Read
"This government is about communication and consensus. We will create a process in which decisions will be taken in four weeks which was taking four months earlier," said Javadekar with reference to decisions pertaining to the broadcast sector.
Javadekar maintained that the ongoing digitization will not be abandoned, Radio phase III licensing will be processed faster, news allowed in FM radio, current DAVP rates will be relooked and self regulation advocated for print medium.
"We believe that soft power of Indian M and E sector can bring innumerable benefits to the Indian economy. The M and E industry provides direct employment to around 10 million people and has the potential to double the number. This sector also is on the cusp of achieving the same global success that the Indian IT industry has achieved," said Ajay Shriram, President, CII, in his opening address.
Information and Broadcasting Secretary Bimal Jalan said his ministry will be an "enabler and facilitator" and will create single window clearance with no "multiple grills".
He said the phase III of FM Radio auctions will be completed by December 2014.
Julka also made a request to the M and E industry to present budget proposals to his ministry by June 23 to be presented to the finance ministry.
Sudhanshu Vats, Chairman, CII Media and Entertainment Committee and Group CEO, Viacom 18 Media Pvt. Ltd said accountability, clarity and foresight from M and E stakeholders will take the sector to new heights.
In his opening address, Chandrajit Banerjee, Director General, CII, said that an innovative push from the government in an enabling regulatory infrastructure and policy reforms will create a world class knowledge driven entertainment in India.
