UK’s Financial Times To Launch In India; Awaits Government Nod

Exchange4media.com: UK’s Financial Times is planning to launch an independent edition in India. As per the current regulations, it has to be a facsimile edition since India does not allow foreign newspapers to print an edition for the domestic market.
The Pearson group company, which owns 14-odd per cent in India’s Business Standard newspaper, is however said to be awaiting government nod for the project to kick off. Former FT correspondent in India Khozem Merchant has been appointed as Country Head and Business Development Director. The advertising sales is expected to be done by Mumbai-based MediaScope. FT has identified India as one of its key focus markets.
Apparently FT doesn’t wish to compete with the existing Indian publications, but would position itself as one providing the international perspective on international and Indian developments. The company plans to target a very elite audience.

CNN-IBN adds: FT is pushing for a change in government policy that allows only 26 per cent FDI in print media. If the paper can’t go solo then it may go in for a fax edition. Lionol Barber, the editor of FT, is in India for two weeks, and he is said to have met India’s commerce minister Kamal Nath. Barber is believed to have made a strong case for policy change, and to allow them set up shop in India. Interestingly, “Financial Times” title in India has been appropriated by The Times of India group. FT has challenged this in the court.

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