Eastern promise
Apr 17th, 2009 | By Leonard Fernandes | Category: Blogs & ArticlesSource: thebookseller.com
Of course, the effect Indian writers have on the UK is not the main reason for India being fêted at LBF. The subcontinent is one of the fastest growing publishing markets in the world, particularly for English-language books. For British publishers in 2007, the country was the 18th most important export market. The amount of English speakers is rising; some estimates put the number at 200 million Indians who regularly use English as their first or second language. As India’s population and economic muscle increases, its book market is certain to continue to grow.
On the academic side, British publishers have a long history in India. Oxford University Press has had an office there since 1912 and Macmillan since 1892. Other big Western academics—including Cambridge University Press, Reed Elsevier and Wiley—have been in the country for decades, many of them publishing locally. It makes sense: as much as 70% of the Indian market is academic and education titles.
It is easy to see why the trade publishers are finally investing: potential. India is the second largest country in the world by population with 1.14 billion people, a growing economy and a burgeoning middle class. Crucially for British publishers, there are those 200 million Indians who speak English as either a first or second language.
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