Telecom sector is seen as a driver of economic growth, especially in developing countries. Recent trends across various countries, including developing ones show that the social and economic benefits of telecom services, especially mobiles are significant, including for the low income segment. Various studies and field experiences suggest that even the most poor have significant information and communication needs and, therefore, national development programs typically incorporate ICT components in their development agenda. Both telecom and broadcast sector have an important role to play in this endeavor. While telecom sector has been able to play a significant part in this area, broadcasting sector has fallen behind in its ability to deliver. There has been a revolution in both telecom and broadcast technologies resulting in low cost service delivery, increase in variety of platforms, and media. As a consequence of technological convergence, it is possible to apply the telecom policy best practices and principles of regulation to the broadcasting sector to achieve growth. But, while the world over, telecom sector has undergone significant regulatory changes, reform processes in the broadcast sector have been slower. This has precluded or reduced the benefits of broadcasting for development. While the Indian government had focused on telecom policies resulting in rapid deployment, a similar level of initiatives in the broadcasting infrastructure side was missing. With the recent developments in telecom and broadcasting technologies, leading to a drop in prices of radios, cheaper availability of mobile phones that have FM receivers integrated and rapid uptake of mobile telephones, government policies should focus on facilitating growth of broadcasting infrastructure, especially FM. For example, the emergence of mobile TV and growth in IPTV are contingent upon several key reform initiatives. Recognizing these linkages, the Indian government introduced the Communication Convergence Bill in 2000. However, it was not passed. To spur growth in telecom, the government had taken innovative policy initiatives such as revenue sharing regime for licensing, identification of viable parameters for commercial operations and brought about institutional change leading to rapid growth. Despite their potential to trigger growth in the broadcasting sector, policy innovations in the telecom sector have not been transferred to the broadcasting sector. The paper examines key policy processes, instruments, and governance structures in the telecom and broadcasting sector in India. The paper is based on the author’s experience as a member of some key national committees and secondary research. The paper reviews the innovations in the telecom sector in India and other countries and in the broadcasting sector in other countries. It then builds on prior work in the literature to draw the implications for policy making processes and structures for the converged sector and the consequent possible outcomes on availability of services. The paper highlights new regulatory processes and instruments that could be adopted from the telecom sector. Such initiatives could facilitate the emergence of totally new business models, whose adoption could lead to commercially viable service for the low income segment as well. Such developments would not only help government departments such as health and education to deploy the development agenda in a more meaningful way, but also help in the economic growth of the sector and the economy