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Pearson Group to increase investment in India

Pearson Group to increase investment in India
PTI
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First Published: Thu, Mar 06 2008. 03 36 PM IST
Updated: Thu, Mar 06 2008. 03 36 PM IST
New Delhi: Pearson Group, one of the world’s largest education firm and also the parent company of the Penguin Publishing House and the Financial Times, is all set to increase its investment in India.
“We expect to increase our investment in India significantly over the next three years and see the provision of educational services as our number one area of focus,” said Marjorie Scardino, chief executive, Pearson.
She added that the firm is looking at increasing its presence in India by combining its expertise with the distribution and entrepreneurial skills of local partners.
As part of its long-term strategy for India, Penguin Group has recently tied up with mobile software firm, Mobifusion for digital delivery through which one would be able to read books via their mobile phones.
Scardino said that Pearson’s India units was led by Penguin which last year achieved sales of nearly Rs1 billion.
Penguin sales grew by 72% last year and the sales of its other Indian unit, Pearson Education grew by 61%.
Scardino said that the firms planned increase in investment is due to the continued success of its operating companies in India and also due to the strong growth of the educational services sector.
As part of this effort, she said that the Group has appointed Khozem Merchant as the deputy chairman, Pearson India and also that a new corporate office has been set up in New Delhi.
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First Published: Thu, Mar 06 2008. 03 36 PM IST
More Topics: Pearson | Penguin | India | Investment | Sales |