With the ABP Group (publisher of The Telegraph newspaper and weekly magazine BusinessWorld) launching Fortune India today, under a licensing agreement with Time Warner Inc (publisher of the iconic American magazine), the battle in the English business magazine segment is expected to heat up.
The launch issue will be priced at Rs 100. Fortune India is only the third country-specific edition for the 80-year-old magazine, apart from the American one. These are in the Chinese language and Fortune Turkey. Fortune India would be launched in 40 cities.
The agreement with Time Warner was in October 2007. The two parties had to wait nearly three years to get various government approvals.