‘Foreign print media needs to be patient’

Nivedita Mookerji in New Delhi

Even as the government is firm about not allowing foreign direct investment (FDI) in the print media, foreign media has not given up hope. Replying to queries by The Financial Express, Financial Times Conferences director Louise Hunter, who’s here for announcing a joint IT initiative with Nasscom, said that foreign media needs to be patient, referring to the FDI issue.

On whether she agreed with the Indian government view that FDI in print media would mean editorial control going into the hands of foreign players, Ms Hunter said: ‘‘I cannot comment on that as a representative of FT.’’ However, on a personal note, she said: ‘‘It could be a good idea to look at foreign newspaper owners individually.’’ Not all newspaper managements are the same, she said. They should be considered case by case, she added.

Speaking for her newspaper, she said that FT has been interested in the Indian market for years. And globally, many other papers would be for two main reasons. One, because India is a large happening market with huge business potential. And two, because there’s a big English speaking population in the country.

In general, Ms Hunter said that Indian newspapers should be excited about FDI as any competition is healthy. ‘‘They should not have any fears from foreign players,’’ she said. Particularly, in the age of satellite TV and dotcoms.

On being asked as to what is the recipe for a successful newspaper, Ms Hunter, who’s been in FT in various areas of functioning, said it’s quality, quality and more quality. By quality, she meant good and unbiased content.

How important is marketing then? No product can grow without good marketing policy, she said. Also, one cannot be complacent at any point because it’s a fiercely competitive industry. On the relevance of pricing, she said that it’s becoming an issue only now.

Speaking on future plans with India, Ms Hunter said that FT Conference is keen on doing India-specific projects in some areas including in pharmaceutical, infrastructure, finance and banking. ‘‘We’ll also try to add value to the Indian media business in due course of time,’’ she added.

The pharmaceutical sector holds a lot of potential as the patent issue is being sorted out, she said. The UK-based group would be interested in doing both surveys and conferences in pharmaceutical sector with specific India interest. The objective she said is to create business opportunities in the Indian pharma sector for European companies and vice versa, Ms Hunter said.