Press Statement

The Polit Bureau of the Communist Party of India (Marxist) has issued the following statement:

The Polit Bureau of the CPI(M) expresses its strong opposition to the decision of the union cabinet to allow foreign direct investment in the print media. Disregarding the recommendations of the Standing Committee of parliament on information technology, the cabinet allowed 26 per cent foreign direct investment in news and current affairs publications and 74 per cent investment in non-news and non-current affairs journals. The union cabinet surrendered under the pressure of multinationals and their strong advocates in the union cabinet particularly the I & B minister, Smt. Sushma Swaraj and a section of the BJP leadership. This disastrous decision will endanger our national interest and the sovereignty of the country. Multinationals will be able to distort and stifle public opinion and weaken the democratic polity in the country. It is pertinent to note that the United States and many western countries are not allowing foreign investment in their print media considering its adverse implications. The so-called safeguards announced by the government will not serve any purpose before the all-powerful multinationals.

The Polit Bureau of the Communist Party of India (Marxist) appeals to all democratic and patriotic forces in the country to come forward and resist the anti-national decision of the union cabinet in order to protect national interests and the democratic system.