Launched in February 2007 as a joint venture between Hindustan Times Media and The Wall Street Journal, Mint, India's English-language business daily, has quickly grown its circulation (from 80,000 at launch to 122,000 copies) and readership, and soon plans to launch new editions in Delhi and Mumbai.

However, according to Managing Editor Raju Narisetti, Mint has had to develop several quality editorial practices in order to distinguish itself from the average newspaper market in India, where some standards of editorial independence and quality reporting lack - and paid editorial content is common practice.

Narisetti will describe Mint's doings at the upcoming World Editors Forum to be held in Gothenburg, Sweden, from June 1 to 4.

To face these ethical dilemmas, Mint implemented several strategies, including publishing a clearly stated corrections policy and code of conduct, easily accessible on the website.

Recently Narisetti wrote an editorial that recapped the number of errors that had been made (mostly factual: gender, titles, dates...). "A lot of papers make errors, we are the only ones who are honest enough to admit it," he said.

"The credibility of media is pretty low in India," said Narisetti. "One of the largest media companies in India actually has a rate card where you can buy coverage."

Some companies, partly held by equity stakes, openly publicize their owners' brands in their publications.

So how can Mint, and the Indian press as a whole, revamp its credibility?

"I'm sorry to say that, but the general consensus in India seems to be that readers don't care, so it doesn't matter."

"Until Mint came along, nobody covered media as an industry, he said."

"There was a gentleman's agreement that you won't write about another newspaper, so that allowed a lot of people to get away doing whatever they want."

Despite his skepticism, Narisetti said: "one of the hopes is that as a lot of western companies form media partnerships in India... that they will also bring in standards and ethics."

No doubt this hope is partly fueled by his own experience. Prior to editing Mint, Narisetti had a 14-year stint at the Wall Street Journal, where he became Editor of Wall Street Journal Europe.

Thanks to this heritage, he remains confident Mint's emphasis on quality will pay. "It's not an easy sell per se, but it's worth doing it because I think long term credibility of the industry is much more important than taking shortcut measures."

Source: Raju Narisetti, Managing Editor, Mint