MUMBAI // At a time when mature media markets are reducing the size of their operations and laying off hundreds of employees, India's print media is growing at a steady rate, offering better salaries and more job opportunities. But some industry experts caution that India's largest media conglomerate, Bennett, Coleman and Co, the owner of The Times of India, is wooing advertising revenues away from other newspapers, impairing their quality and growth rate.
According to media experts, 65 per cent of advertising revenue is cornered by the Times of India Group, forcing other publications to fight for their survival. While Indian newspapers are the cheapest in the world, many publishers have instituted price increases to neutralise the impact of soaring newsprint costs.
Many publishers are also postponing expansion plans, while some are increasing advertising tariffs to offset the higher costs. Metro Now, an English-language newspaper in Delhi, and The Times of India have delayed expansion plans in recent months, while the Business Standard has shut down its newly launched an edition in Rajkot city.
"For any other newspaper to survive, they have to depend on very aggressive marketing and diversification of their media platforms," said Sanjay Ranade, the head of the communication and journalism department at the University of Mumbai.
"This impacts the indigenous newspapers the most because with the rising literacy, rising political awareness and rising purchasing power, the demand for indigenous newspapers is going up, but revenues are not going up."
A report released in July by GroupM, the media-buying arm of WPP Group, said the Indian media would witness 20 per cent growth this year and advertisers would continue to give priority to newspapers and television. India's newspaper advertising market increased 18 per cent last year.
According to the World Association of Newspapers, 60 of the world's 100 top-selling dailies are published in Asia, with the sheer population numbers undoubtedly giving it a boost. In China, more than 98 million copies of newspapers were sold every day last year followed by India, with more than 88 million, and Japan with 69 million. In comparison, the US sold only 53 million copies every day and Germany 21 million copies. All of India's newspapers are privately owned.
"Business is booming and I think there is a lot of hunger to have that [kind of] analysis," said S Mitra Kalita, the national editor at Mint, a New Delhi business newspaper published by India's HT Media in association with The Wall Street Journal. "India is so competitive now and as a new product, we want people to read us so we have to redefine the standards of the industry in terms of accuracy and quality."
The print media continues to attract the largest share of media advertising in India, mainly as a result of the rise of the tabloid and increased regional focus. The Times of India is the largest English-language newspaper, with an average daily distribution of 2.14 million copies. According to the 2006 National Readership Study, the Dainik Jagran is the most widely circulated Hindi-language newspaper, with 21.2 million readers.
"We are growing and moving to proper corporatisation of newspapers," said Mr Ranade of the University of Mumbai. "The Indian reporters are getting more money than before and we will see the industry become more commercial and corporate in the next seven years."
With advertising revenue being focused on English-language newspapers, most experts agree that there is no chance of any local-language newspapers overtaking the industry.
"English is the future of this country for the media, and especially for magazines, which are picked up mainly by English speakers," said Sandipan Singh, the chief operating officer for Images Group, which publishes nearly a dozen industry magazines, mostly in English.
As with many newspapers in the West, Indian newspapers are faced with the challenge of offering a product that positions them as a favourable alternative to the new media boom, and some experts say the incorporation of new media is absolutely imperative for the survival of the newspaper industry.
"Unless they diversify into other media, where advanced literacy is not necessary, then their survival is in jeopardy," Mr Ranade said. "Newspapers in indigenous languages are turning to other platforms, be it online and satellite networks, but they have to step up these efforts if they want to survive."
Ms Kalita agreed: "We've integrated on the web, reporters blog, I blog, everybody blogs," she said. "It's so much more ingrained into multitasking and there is definitely the same shift in readership that has affected the US."
vsalama@thenational.ae
What is tokenisation?
Tokenisation refers to the issuance of a blockchain token, which represents a virtually tradable real, tangible asset. A tokenised asset is easily transferable, offers good liquidity, returns and is easily traded on the secondary markets.
The specs
Engine: 2.0-litre 4cyl turbo
Power: 261hp at 5,500rpm
Torque: 405Nm at 1,750-3,500rpm
Transmission: 9-speed auto
Fuel consumption: 6.9L/100km
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Ten tax points to be aware of in 2026
1. Domestic VAT refund amendments: request your refund within five years
If a business does not apply for the refund on time, they lose their credit.
2. E-invoicing in the UAE
Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption.
3. More tax audits
Tax authorities are increasingly using data already available across multiple filings to identify audit risks.
4. More beneficial VAT and excise tax penalty regime
Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.
5. Greater emphasis on statutory audit
There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.
6. Further transfer pricing enforcement
Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes.
7. Limited time periods for audits
Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion.
8. Pillar 2 implementation
Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.
9. Reduced compliance obligations for imported goods and services
Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations.
10. Substance and CbC reporting focus
Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity.
Contributed by Thomas Vanhee and Hend Rashwan, Aurifer
Australia World Cup squad
Aaron Finch (capt), Usman Khawaja, David Warner, Steve Smith, Shaun Marsh, Glenn Maxwell, Marcus Stoinis, Alex Carey, Pat Cummins, Mitchell Starc, Jhye Richardson, Nathan Coulter-Nile, Jason Behrendorff, Nathan Lyon, Adam Zampa
What is the FNC?
The Federal National Council is one of five federal authorities established by the UAE constitution. It held its first session on December 2, 1972, a year to the day after Federation.
It has 40 members, eight of whom are women. The members represent the UAE population through each of the emirates. Abu Dhabi and Dubai have eight members each, Sharjah and Ras al Khaimah six, and Ajman, Fujairah and Umm Al Quwain have four.
They bring Emirati issues to the council for debate and put those concerns to ministers summoned for questioning.
The FNC’s main functions include passing, amending or rejecting federal draft laws, discussing international treaties and agreements, and offering recommendations on general subjects raised during sessions.
Federal draft laws must first pass through the FNC for recommendations when members can amend the laws to suit the needs of citizens. The draft laws are then forwarded to the Cabinet for consideration and approval.
Since 2006, half of the members have been elected by UAE citizens to serve four-year terms and the other half are appointed by the Ruler’s Courts of the seven emirates.
In the 2015 elections, 78 of the 252 candidates were women. Women also represented 48 per cent of all voters and 67 per cent of the voters were under the age of 40.
SPECS
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Auron Mein Kahan Dum Tha
Starring: Ajay Devgn, Tabu, Shantanu Maheshwari, Jimmy Shergill, Saiee Manjrekar
Director: Neeraj Pandey
Rating: 2.5/5
The five pillars of Islam
1. Fasting
2. Prayer
3. Hajj
4. Shahada
5. Zakat
The specs
Engine: 3.0-litre 6-cyl turbo
Power: 374hp at 5,500-6,500rpm
Torque: 500Nm from 1,900-5,000rpm
Transmission: 8-speed auto
Fuel consumption: 8.5L/100km
Price: from Dh285,000
On sale: from January 2022
RESULTS
6.30pm: Maiden (TB) Dh 82,500 (Dirt) 1.600m
Winner: Miller’s House, Richard Mullen (jockey), Satish Seemar (trainer).
7.05pm: Maiden (TB) Dh 82,500 (D) 2,000m
Winner: Kanood, Adrie de Vries, Fawzi Nass.
7.50pm: Handicap (TB) Dh 82,500 (D) 1,600m
Winner: Gervais, Sandro Paiva, Ali Rashid Al Raihe.
8.15pm: The Garhoud Sprint Listed (TB) Dh 132,500 (D) 1,200m
Winner: Important Mission, Royston Ffrench, Salem bin Ghadayer.
8.50pm: The Entisar Listed (TB) Dh 132,500 (D) 2,000m
Winner: Firnas, Xavier Ziani, Salem bin Ghadayer.
9.25pm: Conditions (TB) Dh 120,000 (D) 1,400m
Winner: Zhou Storm, Connor Beasley, Ali Rashid Al Raihe.
The Brutalist
Director: Brady Corbet
Stars: Adrien Brody, Felicity Jones, Guy Pearce, Joe Alwyn
Rating: 3.5/5
Marathon results
Men:
1. Titus Ekiru(KEN) 2:06:13
2. Alphonce Simbu(TAN) 2:07:50
3. Reuben Kipyego(KEN) 2:08:25
4. Abel Kirui(KEN) 2:08:46
5. Felix Kemutai(KEN) 2:10:48
Women:
1. Judith Korir(KEN) 2:22:30
2. Eunice Chumba(BHR) 2:26:01
3. Immaculate Chemutai(UGA) 2:28:30
4. Abebech Bekele(ETH) 2:29:43
5. Aleksandra Morozova(RUS) 2:33:01
Ferrari 12Cilindri specs
Engine: naturally aspirated 6.5-liter V12
Power: 819hp
Torque: 678Nm at 7,250rpm
Price: From Dh1,700,000
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Specs
Engine: 51.5kW electric motor
Range: 400km
Power: 134bhp
Torque: 175Nm
Price: From Dh98,800
Available: Now
BULKWHIZ PROFILE
Date started: February 2017
Founders: Amira Rashad (CEO), Yusuf Saber (CTO), Mahmoud Sayedahmed (adviser), Reda Bouraoui (adviser)
Based: Dubai, UAE
Sector: E-commerce
Size: 50 employees
Funding: approximately $6m
Investors: Beco Capital, Enabling Future and Wain in the UAE; China's MSA Capital; 500 Startups; Faith Capital and Savour Ventures in Kuwait
