New business publications are raining in India after the unexpected scale of triumph of the Congress-led United Progressive Alliance in the general elections on May 16.
On Monday, May 18, the Indian facsimile edition of The Wall Street Journal was launched in association with the Indian Express group with long-time WSJ man Suman Dubey at the helm. And on Thursday, May 21, the Indian edition of Forbes published by Network 18 and edited by Indrajit Gupta hit the stands.
“Why invest in a magazine when readership is dwindling all over the globe?” Raghav Bahl, the founder and editor of Network 18 writes in the premiere issue of Forbes:
“Because India is in a transformational phase unmatched in human history. Demographic mobility is creating a huge generation of first-time readers, who will simultaneously watch TV and begin to surf the Net. This demographic push is wo wide and deep that many will not skip the “touch and feel paper-reading phase” of their advancement into newly literate adults. But the magazines for this “digital and paper” generation will have to morph and evolve. They will have to go beyond the first information reports screaming on television and web sites. Magazine editorial will have to become like second-skin analysis, get closer to the bone, display more shades, investigate deeper, be more sensitive, deal with ambiguities, explain the greys and tell it with new-age chutzpah and design.”
An India edition of Financial Times is also on the cards, and ET Now, the business channel of The Times of India group is due to go on the air any time now.
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