Dr Sanjaya Baru, Chief Editor, The Financial Express

Our approach to government policies is very Indian. Further, we maintain a strong focus on Indian business. FE would be a window for the world to Indian business, and not necessarily the other way around.

Globalisation has inspired several print publications in the country to focus on global issues, while issues of national importance got increasingly relegated to the backseat. Dr Sanjaya Baru, Chief Editor of The Financial Express, says such an approach will not cut ice with a majority of the readers in the country. FE has therefore maintained a strong India focus. Baru discusses FE unique positioning in the market in an interview with Rajiv Raghunath & Neha Pant of exchange4media.com. Excerpts:

Q. But what about the widespread concern regarding the sanctity of business news? All elements will co-exist in India. Every statement is true in India. The market is complex. In a nutshell, all will survive. There is space for all.

Q. Business journalism is witness to advertorials encroaching into editorial space. Is this a concern for you? I admire the Express group for maintaining the sanctity of editorial space. Express publications are run by editors. This is a singular exception. The Hindu also maintains independence of editorials but is run by the owners.

Q. What is particularly Indian about FE? First of all, our approach to government policies is very Indian. Further, we maintain a strong focus on Indian business. FE would be window for the world to Indian business, and not necessarily the other way around. This focus is clearly reflected in our choice of columnists

When we launched India Inc., a weekender on Indian business, we took a decision to maintain a strong focus on what Indian companies were doing. Following liberalisation, quite many Indian MNCs have been making major forays overseas. FE captures all these developments.

Moreover, our eFE has systematically looked at what Indian companies have achieved in the knowledge sector, including pharma, biotech and IT.

Q. With WSJ entering into an arrangement with the Times group, what sort of competition do you perceive for FE? Zero. The editorial policies of WSJ and Financial Times are very different. They bring news of the world to India. We are doing the other way around. Besides, a WSJ or FT would cost 50 cents a copy (Rs 25-30) which will be too costly for the household. These newspapers will generally circulate in the institutions, where FE is also read.

Q. Do you take regional content seriously? The South is much more visible now. In 1990 when I joined ET, Samir Jain was surprised when I suggested to them to start an edition from Hyderabad. He dismissed it. But ET launched the Hyderabad edition in 1993. The city is has big pharma and IT players. Perceptions have changed.

Yes, coming to your question, local content has increased in our various editions.

Q. What inspired FE to institute women achiever awards? Women are more than models and objects of sexual attractions. With the service sector booming, women have come to occupy top positions in areas like IT, pharma and biotech.

In November 2000 we began a column called ‘It’s not a man’s world’. A woman colleague told me not to make it weekly as it may be difficult to find 52 women achievers. As it turned out, the section has stayed on course for well over three years now.

We then launched the Women@work page. So the awards were a logical step.

Q. Have external factors contributed to the shift in focus? Yes. Financial journalism in India is a lot more imitative than political journalism. Political journalism has an indigenous identity that has been maintained by newspapers like The Indian Express and The Hindu, though The Times of India became imitative in following the USA Today style.

In financial journalism, many of the newspapers have been following the practices of the Wall Street Journal and Financial Times. Fortunately, The Financial Express has been able to create an identity of its own that is quintessentially India.

FE had a tie-up with the Wall Street Journal which ended recently. Honestly, I am relieved that the tie-up is over.

Q. In this competitive environment, how does FE differentiate itself from the rest? We have the best of columnists. Their columns are our assets. Our columnists provide objective analysis, and not the ideological stuff. They don’t wave flags for anybody.

In this age of TV, a newspaper cannot limit itself to page one news. News analysis has become very important for the newspapers. Our columnists provide this. They are eminent persons, not necessarily the page 3 kind.

We also provide the strongest reporting on the infrastructure sector. Our focus on the knowledge economy is well known. But there are weak areas too. For instance, we are not strong on corporate reporting. The reason being, most Indian companies still do not talk to journalists when the newspapers want. They will talk only when they want to and they end up talking to ET or BS.

Q. Any plans to widen FE’s reach? A. We are planning to launch an edition from Hyderabad soon. Ahmedabad edition will follow it.

Q. But institutions also make up the main readership of FE? They won’t replace FE. As for rest of the competition, BS and BL have a more mature base. And ET sells more at household level due the lower cover price. We are not in that competition.

Q. You have held senior positions for well over a decade in the domain of business journalism. What changes have seen in this field in recent years? In the early 1990s business journalism in the country was focused on government policies. In due course, corporate organizations came to occupy the center-stage. However, in recent years with areas like personal finance gaining importance, business journalism has begun to focus on the household sector as well.

Q. What are the medium-term plans for FE? In the medium-term we will cement the number two spot. There is some doubt on this now. In terms of circulation, BS is at second spot, in terms of readership (IRS) FE is at second place.