"The venture enables us to bring global best practices and technology to the printing side of our business among other areas and capture opportunities in the booming high-end magazine and catalogue printing space in India and the Asia-Pacific region", Rajiv Verma CEO, HT Media, said.
In a announcement to Bombay Stock Exchange today, Verma said that substantial portion of the business has already been signed and the companies expect the JV to be profitable in its first full year of operations.
The JV marks Burda's formal entry into the Indian market. Burda will outsource some of its global printing requirement from the joint venture.
