Publishing to Take Off in India
ec. 26 – The publishing business in India is expected to grow manifold next year. While earlier this month the government laid out the final guidelines for local editions of foreign magazines regarding content and advertising, a few days later the foreign investment promotion board cleared the entry of U.A.E. and Netherlands-based publishers. Adding to the optimism in the sector, one of the world's largest book publishers, Harper Colins, said they are looking at India as a major growth center.
Harper Collins, who says their business in India has been growing by 30 percent over the past three years, is especially looking at targetting young urban Indians. They expect the Indian publishing market to grow exponentially as the growth of Indian authors such as Arvind Adiga is fueling the number of english readership in the country positively.
Books are not the only segment of the publishing business thats growing. Foreign magazines that have recently been granted permission to publish local editions are also optimistic about the market. Fortune, Forbes, the Economist, Newsweek and Businessweek are also interested in publishing a local magazine as it will reduce costs and provide local content exposing them to a larger audience.
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