15.227b – Spring Trip to India
Final Paper – Mini Case Study
May 13, 2004
The Times of India: Emerging Strategies for Growth
On January 22, 2004, Vineet Jain, managing director of the Times of India, entered his office smiling. He had just signed a joint operating agreement with Dow Jones & Co. to publish the Wall Street Journal for India. The Journal would be published 5 days a week, with Dow Jones owning 26% – the maximum allowed by foreign ownership laws – and the Times of India, owning 74% of the new venture. The content would focus on Indian readers and tap into the global resources of the Wall Street Journal. Additionally, the editor named was Suman Dubey, a nationally recognized Indian journalist. This marked a major accomplishment for the both the Times of India and the country as a whole. The presence of a customized Wall Street Journal for India validated its growth and economic importance worldwide, a sentiment noted by Peter R. Kann, chairman and CEO of Dow Jones, who said in a press release: “India is a vibrant and growing part of the global economy, and we look forward to playing an increased role in charting – and spurring – that growth.” Jain himself echoed these comments, stating:
The joint venture comes at a moment when India is poised to become a global player across a range of industries: from software outsourcing and entertainment, to pharmaceuticals, textiles and automobile components. As Indian companies, investors and consumers begin to think beyond the geographical boundaries, the need for global information and perspective will grow. We believe that the venture fits in perfectly with the emerging needs of the time.
Indeed, the future seemed bright for The Times of India.
History of Journalism in India While the printing press appeared in India as early as 1670, not until 1777 was the first newspaper printed in Bombay. These papers were