Time Inc. plans to start an Indian edition of Fortune magazine under a license deal with a local media company, an editor at the U.S.-based business publication said Friday.
Rajesh Mahapatra of the Associated Press wrote, “Currently, the magazine, published every two weeks, sells about 8,000 copies per issue in India. That number could increase 10 times with a local edition, [international editor Robert] Friedman said. Under a license deal, Fortune would get a royalty from the Indian partner.
“Rapid globalization of the Indian economy and rising middle class incomes are driving demand for such products as Fortune, which caters to wealthier readers interested in international investments and personal finance. Several global media companies have entered India in recent years to seize the opportunity in this segment of readers with more money to spend on leisure and business reading.
“New York-based Conde Nast Publications Inc. recently introduced a local edition of fashion and lifestyle magazine Vogue. Conde Nast also plans to bring Glamour, Vanity Fair and Traveler to India depending on the success of Vogue.”
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