Rescinding the Central cabinet’s decision in 1955 of not permitting foreign investment in print media, overruling NDA Govt.’s decision in 2000 to the same effect and rejecting the recommendation of the parliamentary committee attached to the Ministry of Information and Broadcasting, the BJP led Central Govt. has permitted direct foreign investment in the print media. The decision once again underlines the influence wielded by MNCs and foreign powers on the decision making in the NDA Govt.

Central  Committee of CPI(ML)-New Democracy strongly condemns this decision of the Central Govt. to allow foreign investment in the print media. The alleged ‘safeguards’ announced by the Govt. of investment limited to 26%, Indian management and staff and an Indian partner having a higher stake are only to lull the people’s anger at the decision. A big company can control with less than this amount of equity besides a number of stratagem to circumvent it. It is also not difficult for foreign companies to find some Indians who would be willing to do their bidding.

Entry of foreign companies into print media with electronic media already fully open to them, demonstrates the extent to which the Govt. of the day is willing to go to please the  foreign companies. With publication of news at their disposal, foreign companies will set the agenda of the media debates and edge off the concerns of the people. With different sectors of economy coming under their sway, their control over news dissemination is yet another step towards taking our country in the direction of becoming a neocolony of imperialist powers. Now foreign powers and their companies will be able to control what is told to the Indian people. This is a good example of the pseudo-patriotism of protagonists of ‘swadeshi’.

Though Indian print media has not been quite objective in dealing with the issues of the people but the danger of foreign companies controlling it can easily be understood.

CPI(ML)-New Democracy strongly demands that this decision of permitting foreign investment in the print media should be withdrawn. CPI(ML)-New Democracy appeals to all patriotic and democratic forces and all political parties opposed to this unbridled sway of foreign companies over all walks of life including print media to build a powerful protest movement against it.