After the facsimile edition of the Wall Street Journal, UK’s Financial Times, too, would hit the newsstands in India with its facsimile editions. Having received the clearance from the Foreign Investment Promotion Board (FIPB), the Financial Times India Pvt Ltd is all set to launch its India editions.
Not too long ago, the government gave its nod to allow foreign publications to have their facsimile editions in India by removing the 26 per cent FDI cap. The move was seen as a welcome reprieve by many international editions waiting ever since to foray into the Indian market.
Speaking to Mona Jain, Strategic Investments India head, India Media Exchange, on the value additions to business genre by these facsimile publications, she expressed, “Indian business publications are well established and well read. The international publications lend a more top end target group, and reach a very selective group of consumer. From qualitative point of view the content or the ambience they offer can be seen as a little superior.”
Commenting on the impact in the advertising sector, Jain said, “There will be select group who will spend money additionally on these international publications over and above the Indian ones.”
Chirantan Chandran, Partner - Client Leadership, Mindshare - North & East, viewed, “I don't feel facsimile editions will make a substantial difference to the regular business genre publications in India. They will cater to a niche TG at the top of the market. Only the top brass executives with an interest in the global scenario will pick up these publications. Also, the cost will act as quite a filter.”
Talking from an advertisers’ standpoint, he said, “I don't think advertisers will be much impacted as people might not want to advertise in the UK edition just because it will now reach the Indian audience. Unless, the publications work out some special rates to encourage Indian advertisers to come on board. However, people might look at working on some direct marketing options with the publications.”