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Clear regulatory framework needed to minimise litigation: TRAI chairman
MUMBAI: Telecom Regulatory Authority of India (TRAI) chairman RS Sharma has said that it is essential to have a clear regulatory framework in order to minimise potential litigation.
Speaking at the CII Big Picture Summit, Sharma said that India is in the midst of a digital revolution with high-speed internet data, multiple channels of consumption, and consumers deciding the time and location of consumption, while conventional delivery platforms are dying. It is imperative that new business models are created.
“At the same time, given the changes and the convergence that this digital revolution is bringing, it is essential that a clear regulatory framework is put in place in order to minimise potential litigation,” he added.
Earlier, giving a keynote address at the CII Big Picture Summit, Minister of Information & Broadcasting M Venkaiah Naidu emphasised the necessity of regulation for the betterment of the system.
The minister stated that rapid changes in technology, the plethora of platforms for media consumption and consumer expectations necessitate new business models based on the emerging markets.
However, he also said that the Indian industry has not yet faced the full impact of disruption, because even today around 80% of consumers have only 2G access on phones, and the full potential of the smartphone has not been unleashed.
Stating that India has the talent and skill required, he stressed that the various government initiatives, such as ‘Skill India’ and ‘Digital India’, would promote the sector.
Urging delegates to ‘look outside’ for best practices, he said it was equally important to ‘look inside’ to make sure that we use the best of both global and Indian.
Tata Sky MD and CEO Harit Nagpal stressed the need for strong fundamentals to enable the sector to reach its true potential. He gave the examples of several issues that hampered growth of the sector due to contradictory policies, and urged the government to take steps to address those issues.
Film-maker Ramesh Sippy said that moving ahead with a positive attitude would help the M&E sector achieve the goal of $100 billion. A change in consumer mindset—of paying for content—is needed so that this sector can achieve its full potential.
Viacom18 group CEO and CII national committee on M&E chairman Sudhanshu Vats said that the theme of this summit was important because of constant disruption. While all organisations deal well with creation and preservation, the need of the hour is to deal well with disruption. Creative disruption is important to stay competitive, he emphasised.