It is good news only if the print media partners, the foreign investors are genuine parties. Print has a tremendous impact on people, much more than that exerted by television - print can still mould public opinion, as has been evident in the election results gone by. It is important that the government thoroughly checks the credentials of foreign investors who are interested in tying up with Indian media. A regulatory body needs to be set up to look into all these issues.

Of course, it is also difficult to monitor whether editorial and managerial control remains in Indian hands, as it is always possible to put dummy people on the board?it becomes the government‘s responsibility to see that the safeguards instituted are implemented properly.

Of course, the decision to allow 74 per cent FDI in non-news and non-current affairs segment is a boon for technical and scientific journals in the country.

I am not surprised by the timing of the decision, it has long been debated by committees and the government has taken a decision based on the reports. The management and editorial controls vested with Indians are necessary safeguards needed at the start of such an exercise, but of course, these will not act as a deterrent for genuine business propositions, but will ensure that there is no complete sell out to foreign companies.

On whether the decision to retain editorial and managerial control while allowing up to 74 per cent in non-current affairs and non news segment is practical?
"It is a good beginning, and people will definitely not invest only to exercise control. Investors are not likely to come in only with the intention of pushing their own agenda as readers in India are quite sensitive?.

"Besides, it is a good idea to have Indian managers who can manage the peculiarities of the Indian media?."

The decision to allow 26 per cent FDI in print media is a good opportunity to bring in foreign capital and foreign technology in a sector that has on the whole stagnated for a while in the country.

However, the vast bulk of the Indian press will have to upgrade itself before it can be attractive enough for foreign investors. The attractive media groups are already well-capitalised and will not exactly be looking for foreign investment. There are a few firms in the middle rung, which will however be looking at FDI and these are the ones that will benefit.

In India, there are three categories of press firms - one, which are not trying to be commercial ventures, second which are out and out commercial, and the third, which is trying to strike a balance between the two. It is this third segment, which will garner the maximum FDI.

It‘s extremely positive. It brings print on the same platform as broadcasting and telecom. There were concerns of national security and these have been addressed in the Cabinet decision through safeguards. So far there is nothing which could be a problem in the new announcement.

We do not believe that FII investment being allowed in print is a natural consequence of this current decision. That‘s an issue which has to be decided by the RBI. Tariq Ansari Managing director Mid-Day Multimedia

The decision is a progressive move, however, it will have no immediate impact on our plans. Last year we had an IPO. We have the capital, however, we may need some technology. We have no reason to sell out at this stage. We have our plans but a divestment of equity to a foreign investor is not on the cards now. The opening up of FDI gives us an option sometime down the road.

We do not believe that FII investment being allowed in print is a natural consequence of this current decision. That‘s an issue which has to be decided by the RBI.