President | 29 Apr 2004
The prime function of Business Wire India is to disseminate corporate information real time in full text to a cross-section of clients who could use them accordingly.
Companies of all hues today have to continually communicate with their various stakeholders through the print and electronic mediums. Because information that originates from the corporate organisations becomes the fulcrum of a myriad business and financial decisions taken by professionals, individual investors and organisations across the country, and even overseas. In recent years, the Internet has made it possible for corporate organisations to disseminate information very nearly as they happen. The need for rapid, reliable dissemination of corporate information is also triggered by the disclosure norms set by regulatory bodies in the financial markets.
Business Wire India, headquartered in New Delhi, provides an Internet platform for Indian corporations to send their news real time and in full text to the media and investment communities in India and anywhere in the world. The Net-based service enables dissemination of news to over 500 print, electronic and Internet-based news systems in India and provides direct access to investors and media throughout North America, Europe, Latin America, West Asia and the Asia-Pacific region.
The corporate releases go through a network of information systems including newswires, financial information services, industry-specific news systems and general news systems.
In India, Business Wire India services are used by a number of leading organisations that include the Aditya Birla Group, Asian Paints, Bosch-Mico, Cranes Software, Deutsche Bank, European Union, HDFC, Hinduja TMT, HSBC, ICICI Bank, Infosys, ING Vysya, Ranbaxy, Novartis, Mastek, Rediff, Reliance Infocomm, Thomas Cook and Unicef. The company has offices in New Delhi, Mumbai, Chennai and Bangalore.
Rajiv Desai, President, Business Wire India, provides a perspective on the company’s services in an interview with Rajiv Raghunath of exchange4media.com. Excerpts:
Q. Has the Internet come of age? And what fuels the growth of Business Wire India?
The Internet is booming today. The fact is that we have seen a telecom boom, and there was every reason for the Internet to follow the growth path. As for the growth of Business Wire India services, the emerging business environment has set the stage for growth. The economy has undergone a huge change, the capital markets have grown, and there is a growing need for corporate information. This is in part triggered by the emerging corporate disclosure norms.
Q. Doesn’t the Net minimise human interface, an essential part of communication?
The prime function of Business Wire India is to disseminate corporate information real time in full text to a cross-section of clients who could use them accordingly. This is not a function of public relations and there is no need to follow up on the information that is disseminated.
Q. The Indian stock market does not mandate strict corporate disclosures like the way it is enforced in the US. Do you expect stricter norms in India in the coming years?
Yes. The Indian stock market regulator SEBI and all major stock exchanges in the country are already working towards enforcing stricter disclosure norms. And that will create the need for greater flow of corporate information.
Q. Do all Indian corporate organisations take communications that seriously?
Not quite. Many of them don’t take their communications too seriously. The attitude is casual. In the US, a press release is checked at several levels within an organisation before it is sent out but that is not always the case in India.
A press release is a document, a part of corporate history and companies need to give it due attention.
Q. Is there a growing market for information related to Indian corporates?
There was virtually no interest at one point in time. But with portfolio and direct foreign investments in India increasing, there is a growing interest overseas regarding Indian corporate affairs.