News Broadcasting
Entertainment sector seeks tax sops
NEW DELHI: The entertainment industry, comprising various segments, today collectively made a representation to the finance ministry seeking tax sops, including exemption from service tax for film distribution.
The industry’s pre-budget memorandum was given at a meeting with the revenue secretary today. The industry was led by joint secretary (broadcasting) in the information and broadcasting ministry, the nodal ministry for the entertainment industry.
Those who participated in today’s meeting included representatives from Film Federation of India, Film Producers Guild of India, Indian Music Industry, Confederation of Indian Industry and Federation of Indian Chambers of Commerce and Industry.
The delegation put forth the following key issues for consideration of the finance ministry in the forthcoming Union Budget.
The representatives from the music industry requested for a more pragmatic approach to tackle the menace of piracy from the ministry of finance. Taking the example of the steps taken by the Central Government to curb the gray market for gold and cellular phones (through a more rational levy structure), representatives of the music industry suggested lower rates of tax for music cassettes and CD’s under VAT regime. In the absence of this, the industry fears that the price difference between the legitimate product and the pirated product will become substantial, thus fuelling piracy even more.
The broadcast sector has demanded that duties, including the countervailing duties, be rationalized, so that the difference between the cost of import and production could be removed. The industry feels that this could help the local industry and would help in the digitization of the industry. Another request of the sector is that the duty structure on the cable and broadcasting should be rationalized and lowered to match those levied on telecom equipment.
The issue of countervailing duty in respect of raw stock was the main point raised by the representative in the Film Federation of India and the Film Producers Guild of India.
The delegation drew the attention of the finance ministry officials to the service tax levied on distribution business, contending that film distribution is not a service sector activity and, therefore, should not be liable for service tax.
The delegation has sought exemption of export duty on the equipment needed for providing education in the field of film and television.
It was also highlighted that the film industry should get similar treatment as the tea and coffee industry. A specific request was concessions similar to Section 33 AD of the Income Tax Act.
News Broadcasting
Rising Bharat Summit 2026 spotlights India’s global ascent
PM Modi keynotes two-day event with ministers, diplomats and icons in New Delhi.
MUMBAI: India didn’t just host a summit, it threw a coming-out party for a nation ready to own the global stage. The News18 Rising Bharat Summit 2026, held on 27–28 February in New Delhi, emerged as a high-octane platform for ideas, vision and strategic dialogue, uniting national leadership, global policymakers, industry titans, defence strategists and cultural icons under the theme “Strength Within”.
Prime minister Narendra Modi set the tone with a keynote that framed India’s resurgence as a reclaiming of lost potential built over generations. “In previous industrial revolutions, India and the Global South were merely followers,” he said. “But in the era of Artificial Intelligence, India is a partner in decisions and shaping them.” He highlighted the country’s thriving AI startup ecosystem and the recent AI Impact Summit attended by over 100 nations.
Union minister Piyush Goyal (Commerce & Industry) stressed India’s readiness to scale exports and deepen manufacturing, while Ashwini Vaishnaw (Railways, I&B, Electronics & IT) positioned technology and infrastructure as twin engines of growth, especially in AI and digital trust. Jyotiraditya Scindia (Communications & North East Development) revealed India’s ambition to lead in 6G through the Bharat 6G Alliance and partnerships with over 30 countries.
Global voices added depth: former Singapore Foreign Minister George Yeo called India’s development “self-sustaining” and strategically vital; ex-UK Chief of Defence Staff General Sir Nick Carter asserted India deserves a seat at the great powers’ table; and former US Commerce Secretary Carlos M. Gutierrez joined ambassadors from Norway, Germany and Sweden in discussions on geopolitical realignment, sustainability and defence preparedness.
Other speakers included veteran investor Ramesh Damani, World Gold Council CEO David Tait, Vianai Systems founder Dr Vishal Sikka, DeepTech Bharat Foundation co-founder Shashi Shekhar Vempati, defence experts Rajesh Kumar Singh, Sunil Ambekar, Patrick McGee, Tom Cooper and Adrian Fontanellaz, plus cultural and sporting icons Kangana Ranaut, Saina Nehwal, PR Sreejesh, Mohammed Shami, Yuzvendra Chahal, Mithali Raj, Anil Kapoor and Yami Gautam.
The summit was supported by Jio Financial Services (Presenting Partner), Phonepe and DS Group (Co-Presenting Partners), Pernod Ricard India and Kia Seltos (Powered By & Driven By), state governments of Uttar Pradesh, Chhattisgarh and Uttarakhand (State Partners), and associate partners including NSE, M3M Foundation and Reliance Industries.
Broadcast live across News18 Network, CNBC-TV18 and CNBC Awaaz, the event reinforced India’s image as a confident democracy and emerging global power proving that when strength comes from within, the world can’t help but watch.
