New Delhi: Government on Tuesday said it was hopeful of an ‘early’ resolution to concerns of Indian magazines on issues like circulatory figures, paper pricing and enhanced advertisement support from DAVP.

"I can assure you all that we have taken up these matters on high priority and hope for their early resolution," I&B Minister Ambika Soni said at the 38th World Magazine Congress.

She said her Ministry was in the process of streamlining mechanism to address concerns related to police verification for titles even as it has resolved some earlier issues.

Observing that the present situation in the magazine sector was "somewhat more optimistic" then two years back when the Congress had met in London, she said the only way forward for the sector was to innovate, adapt and expand.

"On Tuesday, the picture is somewhat more optimistic. Of course, grave concerns and issues remain to be tackled and need to be continually addressed. But the way forward is becoming increasingly clear. I think it can be summarized in three words: innovation, adaptation, and expansion," she said.

She said review of the print media policy of 1955 in 2002 and 2005 by government has paved the way for the "spurt" in the magazine sector and felt the existing environment needs to be promoted further to give further fillip to magazine sector.

The magazine segment, she said, is estimated to grow at a compound annual growth rate of 4.8 percent between 2010-15.

"The liberalization of our print media policy has not only attracted FDI, it has given a growth perspective to magazine industry in India. Currently permission for 260 Indian editions of foreign speciality magazines has been given," She said.

The Minister said the niche magazine segment is presently seeing an influx of international titles in the country and "this trend can only continue".

With 77,000 registered publications including magazines in several languages, she said India has become one of the major "magazine-hubs" of the world.