Mumbai, Feb 3 (IANS): Union Minister for Information and Broadcasting Manish Tewari has assured the media and advertising fraternity that industry views would be taken into consideration while framing policies relating to the sector.

Speaking at the International Advertising Association (IAA)'s first Leadership Awards function in Mumbai late Saturday, Tewari listed out paradoxes associated with the media and entertainment industry - self regulation, skewed revenue model and imperfect audience measurement models, among others.

Highlighting the need to create a statutory mechanism to address issues related to convergence across media, entertainment and telecom, Tewari said: "Convergence across media, entertainment and telecom space, especially with digitization kicking in, is inevitable."

Tewari presented the IAA Leadership Awards in various categories, honouring individuals in the field of marketing, advertising and media.

Veteran media professional Pradeep Guha, who was associated with the Times Group and Zee Network, was inducted into the Hall of Fame, while advertising industry veteran Sam Balsara was honoured with the Media Agency Head of the Year award.

In all, there were 18 categories of awards, including creative agency head, best CEO, media person of the year, best editor, best news anchor, and marketing head of the year in banking, insurance, automobile, telecom, FMCG products, and travel and hospitality sectors, among others.

The event was attended by more than 400 senior professionals from advertising, media and marketing fields from all over the country.