Union minister M Venkaiah Naidu on Tuesday said the Phase-III auction of radio channels, which started in July last year, is likely to bring in an estimated USD 390 million revenue to the government.
He said the industry is poised to witness a phenomenal growth opportunities which would primarily be seen after the second batch of the Phase-III auction for 266 FM channels in 92 cities tomorrow.
The 227 channels will be auctioned for 69 fresh cities while 39 in the existing 23 cities.
"The Phase-III auction, which started in July 2015, is likely to bring in an estimated USD 390 million in revenue to the government. With over 800 frequencies up for auction in third- and fourth-tier towns (in 294 cities), radio is likely to match the reach of print," he said while addressing 5th edition of CII Big Picture Summit 2016 here.
He also said the government will join hands and work with industry to achieve the ambitious target of taking the Indian M&E (media and entertainment) industry to USD 100 billion in next five to even years.
"It is not an unambitious target and the I&B ministry will play a facilitator role with right regulation, regulatory corrections and policy initiatives. We are committed to transparent functioning," he said.
The Minister said Indian share of the world M&E market is less than 1 per cent in the USD 3 trillion global media and entertainment market.
He said Indian cinema should preserve and project integral part of the Indian culture and its heritage to make the nation strong.
He urged the film fraternity to avoid showing "vulgarity and obscenity" in cinemas.
Without mentioning India-Pakistan tension, he said though art has no boundaries countries do have.
"We want good relations with all including our neighbours. But the neighbour too has to behave like a good neighbour," he said.
"Aiding, abetting, funding and training terrorists, is not acceptable at all. They want to subvert the country. Why are you doing this? This will be ruinous for you also. Let us join together. Why this kind of activity? Terrorism is the enemy of humanity and it has no religion," he said.
He said India has "no history of aggression" and is the most tolerance country. To stress India's "history of non-aggression", he said Lord Ram also went to Sri Lanka to kill Ravana but then came back.
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