The good news first: Walt Disney Company, which launched two channels in India today, is contemplating launching its other businesses including theme parks, publishing, Internet, events and broadband mobile content in India.

Now the bad news: But a Disney Land in India will take at least five to six years.

"In the business of theme parks, our entire energy is now concentrated on the Hong Kong project, which is expected to start late next year. This is a very capital intensive business which requires long-term planning," Douglas K Miller, executive vice president and managing director, The Walt Disney Company Asia Pacific, said on Thursday.

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In the immediate future, Walt Disney will bring its other businesses such as publishing, magazines and consumer products to India.

"We are undertaking market research on the businesses that we can establish in India," he said. The Walt Disney Company, the world's sixth largest brand, is betting big on the television venture in India.

The company expects its television venture in India to be its largest television business outside the US in the immediate future. The television major, which runs 24 channels across the globe, is expecting 20 million viewers in India after the first 12 months of operations.

"India is a preferred market for us globally. We want to be the number one kids channel here," said David Hulbert, president, Walt Disney Television International. The company believes that the growing consumer and television market coupled with a higher economic growth is a perfect tonic for its growth in India.

As a part of its strategy to emerge as the number one kids channel in India, it will have 400 episodes of local production in its two pay channels -- Disney Channel and Toons Disney -- which the company claims is the largest localisation programme undertaken by any television channel in the country.

Besides, this is the largest localisation that Walt Disney is undertaking anywhere in the world.

In addition, India will be the first market in Asia Pacific where the company is launching its Toons Disney channel.

In addition to Hindi and English feed for its two channels, it is also introducing 24-hour channels in Telugu and Tamil. The channels, which will be distributed in India by Star India, will initially have 1650 episodes of dubbed content initially.

Besides, the television channel company is also planing to introduce 60 original Disney movies a month in India. The channel will target kids of the age group of below 14 years with its two channels.

Walt Disney is also keen to take Indian content to global markets also.