Considering that India’s media and entertainment (M&E) sector contributes in various ways to the country’s economy, a top industry executive has said the industry sould be allowed to ‘flourish’ unfettered as heavy-handed regulations don’t address the interests of any stakeholder.

“Given the power and influence of our industry, it is essential that we be allowed to freely flourish with the power to self-regulate,” stressed K. Madhavan Chairman, CII National Committee on Media & Entertainment and Country Manager & President, The Walt Disney Company India & Star India.

Madhavan on Wednesday also made a case for doing away with multiplicity of authority and regulations by suggesting one coherent national policy for M&E sector.

Making an impassioned plea on behalf of the Indian M&E industry — estimated to be worth approximately $ 27 billion presently — Madhavan said that self-regulation was working fine for both TV and digital medium and, as such, the industry and the government should work together for further development.

“Self-regulatory bodies for both TV and digital are working extremely well in India, and have proved that they can effectively handle complaints and concerns, without any interference from policy makers and regulators,” he added while speaking yesterday at the inaugural of the 10^thedition of CII Big Picture Summit, an annual conference on M&E sector.

Madhavan’s remarks on general rules, price regulations, and other issues were made in the presence of MIB Secretary Apurva Chandra and TRAI Chairman P.D. Vaghela — both of whom graciously accepted Disney-Star India head’s contentions.

Madhavan also brought up the contentious issue of TRAI’s price regulations (popularly known as New Tariff Order or NTO), which is witnessing a protracted legal battle on its implementation, saying such issues only hold back the sector from growing further.

“Regulations like NTO 1 and 2 did not address the interests of any stakeholders, including the customers.  The  silver lining in this matter is that the new Chairman of TRAI Dr. Vaghela and his team are taking  keen interest to address the concerns of the industry on priority.

“We hope to have a more proactive and positive approach from the regulator. There needs to be light-touch regulation, so as not to hold the industry back,” Madhavan said.

Madhavan, who also heads the industry body Indian Broadcasting & Digital Foundation, exhorted the policymakers to “create  a single National Policy for the Media & Entertainment sector”, one which was coherent and captured the industry’s  aspirations and  brought in greater clarity for the industry and regulator(s) alike.

“With the inputs from the industry, this new National Policy could guide regulators for years to come, and ensure that the consumers, the industry and all stakeholders find certainty and clarity in equal measure.  Digital streaming has changed the global consumption pattern, and our vibrant Indian content can make a serious impact at the global level, provided we get the right support from policy makers and the regulator,” he added.