Open media There are few industries in India as protectionist and insular as the media. For over four decades newspapers and television broadcasters based in India have been banned from being even partially owned by foreign capital. This was part and parcel of the bankrupt economic philosophy of self-reliance. It was also governed by a belief the media had a quasi-political role that set it apart from other forms of economic activity. One could no more allow foreign ownership of an Indian newspaper than one could, say, allow foreign citizens to sit in Parliament. This week the Union information and broadcasting secretary, Mr Y.N. Chaturvedi, said the government would look into the question of easing restrictions on foreign investment in print media, in particular. This would be a useful complement to the revised broadcasting bill that the government plans to introduce. This would allow 49 per cent foreign equity in domestic broadcasting. The bases of the earlier ?Indians only? policy were always questionable. Today, technology and trends in the global media industry have made it not only acceptable for foreign investors to buy into Indian media, it has also made overseas infusions of capital and know- how necessary for the industry?s long term survival. Any Indian with access to satellite television can see that foreign programmes have already overrun the country?s screens. Even in print, dozens of foreign journals and newspaper services are available in India under licence. Finally, there is the internet. Anyone with a modem can access thousands of foreign newspapers and magazines at will. Therefore, to talk of the baleful influence of foreign owned media on the Indian reader or viewer is laughable. Access to foreign media is already beyond the control of any government?s regulatory authority. The global media industry already reflects this transnational nature. Media companies are merged and bought with dizzying speed, giving rise to such media moguls as Mr Rupert Murdoch. There is no reason why there should not be Indian media tycoons. Mr Subhash Chandra?s Zee Television has given multinationals a run for their money. But no Indian will be a major global player if he is denied the ability to tap foreign capital or merge his company with foreign media firms. Like most forms of protectionism, the ban on foreign investment in Indian media companies will only ensure that Indian industry will, over time, become a marginal, parochial sector ignored by a large chunk of its own people. Concerns that information flows to Indians will all be controlled or provided by foreigners will then become a self-fulfilling prophecy. In any information driven sector, only openness can guarantee long term strength and vigour. If India?s media remains closed off from the rest of the world, it is wholly predictable that it will eventually shrivel into impotency and irrelevance.