"If you look at all mediums, print, television, Internet, they are just reaching 50 percent of the Indian population. The other 50 percent are 'media dark'."

Factor in that The Times of India, India’s largest English-language daily, has a total circulation of 7.4 million; factor in that the top two best-selling dailies – Dainik Jagran and Dainik Bhaskar – distribute over 40 million copies a day; factor in that news television channels and various print publications are being regularly launched throughout the country; factor in that “this is just the takeoff stage”; this should add up to an obvious and essential prospective market for any sensical news media company.

Have you ever heard of a shortage of journalists? That’s what’s happening in India. Newly launched publications and growing newspapers are fighting to retain their quality journalists, offering raises and loyalty bonuses, which are often insufficient in comparison to the incentives offered by rival publications.

"They (journalists) are getting 40 to 45 percent raises to go to another newspaper, then
sometimes during their probation period they get the offer of a raise of a
similar nature somewhere else," said an Indian media manager. Even important newspapers are constantly conducting walk-in interviews to respond to the shortage. A real headache for managers and a true haven for journalists.

Since 2002, when the law relating to foreign ownership of media companies was relaxed, foreign investment has been pouring into India’s media. Further foreign investment has been drawn by the increasing tendency for western media companies to outsource their work.

So the craze is just starting, and foreign newspaper and media companies have everything to gain by investing in high-return low-cost India. On the other hand, there’s always the risk of creating an Indian media bubble that could – improbably – burst as quickly as its rising promises.

Source: AFP