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The Globalization of Magazines in India: A case study
Unformatted Document Text:  9 India and foreign news agencies were not permitted to sell their reports directly to Indian subscribers. The goal of this media policy was to protect domestic news organizations from foreign competition as well as to prevent a western bias in the news of a nation that, seven years prior to the passage of this act in 1955, had been under British rule. This policy remained in effect till 2002 when the government decided to allow foreign ownership of up to 26% in news and current affairs publications while non- news publications were allowed a 74% share of foreign ownership (Fernandes, 2002). In 2005 the rules were relaxed further to allow foreign companies 100% ownership in non-news publications. While the rule change faced opposition from some political parties and newspaper owners, the government justified the relaxation on the grounds that with foreign investment already allowed in the broadcasting and Internet sector, there was no longer a rationale for shielding the print sector from outside influences. Many local publishers welcomed the change because it brought with it the possibility for an influx of capital from foreign investors. T. N. Ninan, publisher and editor of the daily, Business Standard, which had a memorandum of understanding with the Financial Times (London) described the deregulation as ‗a blue skies scenario for Indian media,‘ with international companies bringing expertise in taking a publication through different stages of development (Fernandes, 2002). International Publishers in India If the 90s were the decade of international players entering the cable segment, the 2000s were the decade of international magazines. Between 2005 and 2007 10 new international titles had launched (Sabharwal, 2007), with close to 10 more between

Authors: Shrikhande, Seema.
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India and foreign news agencies were not permitted to sell their reports directly to 
Indian subscribers.  The goal of this media policy was to protect domestic news 
organizations from foreign competition as well as to prevent a western bias in the 
news of a nation that,  seven years prior to the passage of this act in 1955, had been 
under British rule.   
This policy remained in effect till 2002 when the government decided to allow 
foreign ownership of up to 26% in news and current affairs publications while non-
news publications were allowed a 74% share of foreign ownership (Fernandes, 2002). 
In 2005 the rules were relaxed further to allow foreign companies 100% ownership in 
non-news publications.   While the rule change faced opposition from some political 
parties and newspaper owners, the government justified the relaxation on the grounds 
that with foreign investment already allowed in the broadcasting and Internet sector, 
there was no longer a rationale for shielding the print sector from outside influences.  
Many local publishers welcomed the change because it brought with it the 
possibility for an influx of capital from foreign investors. T. N. Ninan, publisher and 
editor of the daily, Business Standard, which had a memorandum of understanding 
with the Financial Times (London) described the deregulation as ‗a blue skies scenario 
for Indian media,‘ with international companies bringing expertise in taking a 
publication through different stages of development (Fernandes, 2002). 
International Publishers in India  
If the 90s were the decade of international players entering  the cable segment, the 
2000s were the decade of international magazines. Between 2005 and 2007 10 new 
international titles had launched (Sabharwal, 2007), with close to 10 more between 

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