Dow Jones, the media group that recently received government permission to publish fascimile edition of The Wall Street Journal in India, is planning major expansion in the country.
Rupert Murdoch-owned Dow Jones, which publishes The Wall Street Journal, MarketWatch and the Far Eastern Economic Review, said it has plans to double investment in India in each of the next two years.
"India is an increasingly important market for us. The opportunities are significant and will only continue to grow as the Indian market becomes more and more hungry for high-quality business news and information," Dow Jones vice president Bruce MacFarlane said in a press release.
Over the years, Dow Jones expects its Indian investments to help significantly increase its marketshare in the country and make India one of the company's largest operating centres outside the US.
Reports, meanwhile, said Dow Jones will focus mainly on improving content – output of journalists for the newswire – and license content as a part of its content aggregation business Factiva.
The media group will also build a commercial team in to market and support its products and services in the country.
Dow Jones currently has a content sharing agreement with The Mint, published by `Hindustan Times'.
Dow Jones India has been scaling up operations of all its group businesses, including Dow Jones Newswires, Factiva, Client Solutions, Dow Jones Indexes and Financial Information Services.
Dow Jones is expanding its office in Mumbai and plans to set up an office in Delhi. The staff strength will also go up to 70 by June-end (70 per cent of which will be journalists).