would take about 10 years to catch up with China as a market, but
the political and social vibrancy of the country and the zeal of
Indians make it one of the most attractive destinations for investments.
it the World Bank chief holding forth on investment environment
in India? No. Its News Corp chairman Rupert Murdoch venting
his feelings on India and its various aspects in a fashion that
he knows best: straight from the heart, without pulling any punches.
yet another indicator of Murdochs frankness, which also speaks
volumes of his understanding of business and the local social milieu.
he feels that India as a business destination for News Corp has
proved right or not, Murdoch says, "Its always very complicated
here. There is a lot of bureaucracy, the rules change from time
to time, but we have to step into it. Its a wonderful market;
we have had a good experience. We believe we are just beginning.
Media is changing all over the world and in a country like India
it is a great and huge opportunity."
people may think that he needs to be protected from prying journalists,
but Murdoch, one of the most powerful media barons in the world,
doesnt pull his punches when quizzed and deals with even uncomfortable
questions with such panache that one cannot but admire him.
an instance of his dexterity at making the uneasy questions look
whether politicians are responsible for pulling back Indias
march to stardom, Murdoch told Star News in an interview, "Some
of the things that hold India back are the best aspects of it. That
it is a complicated democracy. In this stage that means a certain
amount of stop (and) go, but its taken a long time. Perhaps, it
started 10 or 15 years ago but still has to go a long way. In China
there are fewer barriers, government has central planning, they
release the people in many ways to start their own business."
go to Shanghai, which I have been going to, and to Beijing for 20
years and every couple of years that I go there I am amazed at their
physical growth. But when I come to Mumbai, it still looks the same.
The policies over the years of the different (Indian) governments,
the complications arising because of the different political parties
have slowed down the progress."
also ruled out entering the print medium as that would mean "stepping
into the political arena as a foreigner." He explained: "I
dont think that it would be wise particularly in India. I
am a bit libertarian in nature. I let it all happen."
News Corp chairman also hinted at the business opportunities his
company, Star, would like to exploit here in the future --- digital-led
convergence leading to newer technologies like broadband.
we carry excerpts from an exclusive
interview with Murdoch that Star News aired
Of course, Murdoch owns 26 per cent of the company that manages