Vogue announced it would launch an Indian edition in 2007, and in February The Wall Street Journal launched a business paper, Mint, in partnership with The Hindustan Times.

India’s print media is estimated to reach over 220 million people, and there are an estimated 370 million more literate Indians who still don’t have access, or don’t access, any publication.

The Indian print media industry has received $90 million in foreign investment in the last three years. Indian legislation still restricts foreign ownership of a media company to a maximum 26%.

As for the Internet ad industry, revenues are expected to grow around 43% annually. There were about 21 million regular Internet users in India in 2006. This number is expected to increase to 35 million by 2008.

According to mere figures, India seems to be a promising haven for struggling media from western countries, both for print and online ventures.

Source: Forbes.com through I Want Media