The big sailors of the news market are foraying into the Indian domain considering it to have huge potential in the news industry. Quartz, the American mobile-first digital publication, the Guardian and the Huffington Post are going to be the bigger fishes in the Indian market.
Targeting the launch in spring or summer around the timeline of the General Election in India, the Quartz will be releasing India-specific features much soon. Atlantic Media, the parent partner of Quartz announced the launch with a team of journalists devoted to the channel full time and along with “major sponsors”.
“With Quartz, the idea is to focus on business news since Scroll.in is focused on culture and politics,” said Samir Patil, founder and chief executive, Scroll Media Inc. that operates with a small team of 10 people.
The India, global media market is alluring offshore news brands for various reasons. Unlike newspapers, which have a 26% cap, online media products do not face any prohibition in terms of foreign direct investment (FDI) in news and current affairs. Furthermore, India is home to 169 million active Internet users, according to a report by lobby group, Internet and Mobile Association of India.
“This growing population, like everywhere else in the world, is adopting the mobile devices and social mechanisms that give them ready access to information they need, and Quartz is built for those conditions,” said Jay Lauf, publisher of Quartz.
Many other Western outlets are opening shops in the Indian state. The New York Times has been blogging on India Ink since 2011. The international editions of Huffington Post shall feature India as well.