The union minister for information and broadcasting Manish Tewari called upon the magazine industry to strengthen its presence in the digital and new media era by playing the role of an objective, analytical and authentic source of information. Innovation needed to be used as a sustained tool for bringing the change in the lives of the readers rather than being a tool for ‘short-cut’ solutions, he stated, while delivering the inaugural address at the 8th Indian Magazine Congress (IMC) in New Delhi on the theme ‘Winning through Innovation’ on Monday.
Tewari explained that in recent times, many iconic publications had turned digital and the need of the hour was to empower the world wide web through ‘agreed rules of engagement’. On the magazine industry’s future, he underlined key factors for success. He said, “This would be possible if the industry was able to achieve greater operational efficiencies and connect with readers through delivery of high quality content. The industry could focus on profitable growth by implementing cost control initiatives and adopting technology across key business performance areas such as planning, budgeting, customer relationship management, strategic outsourcing, etc. While leading players had taken necessary steps, it was necessary that the industry reviewed the process in its entirety,” noted the minister.
He noted that in marked contrast to global trends, the Indian print industry was growing with steady increase in both advertising and circulation revenues. Despite internet broadband penetration increasing at an enormous pace, the print industry would continue on an upward trajectory due to growth in vernacular and regional markets, he noted.