Information and Broadcasting Minister Manish Tewari on Monday called upon the magazine industry to strengthen its presence in the digital and new media age by playing the role of an objective, analytical and authentic source of information.Delivering the inaugural address at the 8th Indian Magazine Congress here on "Winning through Innovation", the minister said in recent times, many iconic publications had turned digital and the need of the hour was to empower the worldwide web through agreed rules of engagement.It was necessary for the digital world to go through standard editorial checks so as to ensure rich and authentic content in the new media space, he said, according to an official statement. The challenge before the magazine industry was to withstand the flow of instant information emerging from different media streams, he added.
On the magazine industry trends, Tewari said the future performance would be a critical player determining the macroeconomic environment necessary for print media stakeholders. This would be possible if the industry was able to achieve greater operational efficiencies and connect with readers through delivery of high quality content, he said.Tewari said that in marked contrast to the global trends, the Indian print industry was growing with steady increase in both advertising and circulation revenues. Although, internet broadband penetration has been increasing at an enormous pace, print industry would continue an upward trajectory due to growth in vernacular and regional markets. The magazine industry, both vernacular and English, had shaped public discourse for over 60 years and still had potential to grow, he said.On trends for the print media industry, the minister said the market for regional and vernacular markets continued to grow in an environment which was fruitful in view of rising literacy levels, low print media penetration in certain areas and the desire of stakeholders to use the platform.