Media CEOs bat for light-touch regulation, TRAI defends reforms

Media veterans at the inaugural session of the two-day FICCI Frames Summit in Mumbai on Tuesday underlined the urgency of a “light-touch” approach to regulation, saying the burden of compliance was stifling innovation and growth. The comments come at a time when the domestic media and entertainment sector, which is valued at Rs 2.5 lakh crore, is slated to touch Rs 3 lakh crore by 2027, growing at 7% per annum. OTT users have surpassed the 600-million-mark, even as TV homes stand at about 190 million.