NEW DELHI: Succumbing to pressure from Indian news agencies the Information and Broadcasting (I&B) minister Ajit Kumar Panja has rally decided against giving foreign news agencies direct access to the Indian market.
However nothing is known about the fate of the two foreign financial news services Telerate Financial Services and Knight Ridder Financial Services which were given permission last year by the finance ministry to get direct access to the market here and are currently in operation
Also nothing is yet known about the future of the agreement between Reuters Media Service and Press Trust of India (PTI) due to expire this month. Under his agreement Reuters financial monitor service was being supplied to corporations firms business offices and financial institutions in India at a subscription fee charged by PTI.
Punjab told the Economic Times” final decision had been taken recently after consulting PTI UNI and Press Council of India who endorsed a ban on any direct entry
However he had asked PTI and UNI managements to tones up the quality of their general reporting and make special efforts to improve economic re porting Punjab added.
The decision has been taken despite the finance ministry which gives the final permission favoring their entry
The Foreign Investment Promotion Board has also recently cleared a joint-venture proposal between Living India Media Ltd and “The Financial Times” on opening an Indian edition of Financial Times”
Article extracted from this publication >> June 26, 1992
