The Hindu : FDI in print media interests Germany

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Friday, Jul 05, 2002

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FDI in print media interests Germany

By Preeti Mishra

BANGALORE JULY 4. The recent decision of the Indian Government to allow foreign direct investment (FDI) in the print media has generated interest in Germany. "We have a long term interest in the Indian print media. In the future if we find suitable companies that match our profile we would like to explore the option (of FDI),'' Peter Friess, CEO, Goto Bavaria, told The Hindu.

As of now however, Germany is restricting its interest in the Indian media to joint ventures and collaborations, through Goto Bavaria, a state agency that facilitates greater trade between Bavaria, as also Germany and India.

With German media bigwigs such as Hubert Burda and Thomas Mittelhof, founder of Napster on the Goto Bavaria Advisory Committee, the agency has solicited Indian publishing firms for partnerships. Publications of technical journals and computer magazines will be the first point of entry.

An enhanced network with the media and entertainment industry is another strategy of Goto Bavaria to increase Indo-Bavarian interaction of the print media. The Indian information, communication (media) and entertainment industry is also being wooed by this German state aggressively.

Having started its full-fledged Indian operations two years ago, Goto Bavaria has been successful in attracting seven Indian IT firms to Bavaria. The agency is in talks with ten more IT firms for the same.

Meanwhile, Dr. Friess, who concludes his visit today after parleys with the Wipro Chairman, Azim. H. Premji, hopes that the Indian IT industry will invest in Bavaria on a wider scale. The visit to Wipro is a follow-up to Mr. Premji's recent visit to Munich.

Bavaria beckons Bollywood

"We have wonderful locales like the Garmisch/Partenkichen, which has the highest mountain in Germany that would be of interest to Bollywood,'' Dr. Friess said. The multi-crore Bollywood industry churning out hundreds of films every year has the Bavarian Government `calling Bollywood' as a destination of picturising movies and a post-production centre. A Film and Television Organisation has also been set up by Bavaria to woo the Indian film industry.

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