The Euro 18 billion German media major Bertelsmann is likely to zero in on India as its next investment destination, with Information and Broadcasting Minister Ravi Shankar Prasad making a strong case for the country during his meeting with the group's brass in Berlin last week.
Speaking to Business Standard, Ravi Shankar Prasad said, "We have suggested that Bertelsmann should look at the possibility of a niche channel in India. It can also look at investing in the television, films and animation businesses in the country."
The minister met Bertelsmann Chief Executive Officer Gunter Thielen, besides the heads of group companies Random House, RTL Group and BMG Music on November 7.
His meeting coincided with that of an industry delegation led by the Federation of Indian Chambers of Commerce and Industry.
Prasad said he had taken the initiative to meet leading corporate groups across the globe.
Germany was his first destination, he said, adding that he would leave it to the group to explore joint ventures with Indian media and content companies.
"The ministry's role will be to highlight the business opportunities available in India, and facilitate the entry of these foreign firms," he said.
The minister said India was fast emerging as an investment hub in South Asia. "We want to make it the hub of global entertainment business," he said.
India had a vast pool of skilled and English-speaking manpower, which also possessed the requisite technical expertise, he pointed out.
Prasad said the Bertelsmann group had invested $2.5 billion in China over the last few years, and now it was impressed with the way India was showcased by the Ficci delegation.
Senior executives from Crest Communications, Padmalaya Telefilms and Amarchand Mangaldas were part of the delegation, which presented various aspects of conducting business in India.
Prasad quoted the Bertelsmann Thielen as having said it was a historic day.
Though Ficci had its annual convention Frames which focussed on the media and entertainment sector in March, Prasad said Bertelsmann may come to India earlier than that.
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