Mumbai: Dow Jones and Co. Inc., a unit of Rupert Murdoch’s News Corp. and provider of global business news and information services, plans to double its investment in India over each of the next two years, making it one of its largest operating centres outside of the US.
“This is good time for investments,” Mitya New,managing director, Dow Jones India, said in an interview. “Unlike other businesses, which have to focus on retaining business during this time, we can just focus on building and acquiring new businesses.”
The company refused to disclose details of the planned investment. It plans to focus mainly on improving content, starting with the output of journalists for the newswire, as well as to licence content as a part of its content aggregation business Factiva.
It will also build its commercial team, which would sell, market and support products and services in India.
Dow Jones is the publisher of The Wall Street Journal, with which Mint has a content sharing agreement.
Dow Jones India has been scaling up its business in recent months, starting with the Enterprise Media Group, which includes Dow Jones Newswires, Factiva, Client Solutions, Dow Jones Indexes and Financial Information Services.
According to New, the market for such services in India would continue to grow. “One area we will undoubtedly see growth in is the asset management area…as pension funds grow as people worry more about managing their wealth…all those areas require more sophisticated information tools to be more aware of financial markets and understand them,” he said.
The company also maintained that while the local language market is interesting, it is not its focus right now. “In the future, we will not rule that market out,” said New.
The Consumer Media Group, which publishes The Wall Street Journal, MarketWatch and the Far Eastern Economic Review, has received the required approvals for a facsimile edition of The Wall Street Journal in India, which New said would be launched shortly.