Cambridge University Press enters India

New Delhi, July 18 (UNI) Cambridge University Press today entered India with the acquisition of 51 per cent stake in Delhi-based Foundation Books at an investment of 6 million dollars.

''With a strong globalisation strategy, we are looking for the growth of our 250 million dollar publishing business in outward looking markets like India,'' said Chief Executive of Cambridge University Press Stephen Bourne.

The new entity from the tie-up, Cambridge University Press India Pvt Ltd (CUPI) will become a base for publishing quality educational materials for many countries in Asia and elsewhere, he added.

''India publishes 20,000 new titles every year which indicates that the publishing industry is really flourishing in this country and with Cambridge tying up with Foundation Books, the former which saw a sales of Rs 25 crore last fiscal is likely to see a profit of Rs 40 crore,'' said Cambridge University Press Managing Director Manas Saikia.

Cambridge University Press which specialises in text books of the graduate and post graduate level and research based books on different subjects is roping in academicians to bring out more books. At present it publishes 2500 titles a year.

So far most of the books brought out were by Indian authors based abroad, however now it promises to bring out books from Indian authors based in the country.

''The investment and management resources available through Cambridge University Press's strategis stake will enable Foundation Books to build further on it's already strong position in the educational and academic sectors,'' said Mr Saikia.

Foundation Books at present publishes the Journal of India Foreign Affairs and with the tie-up in place CUPI plans to launch more journals from India. CUP said that it had already acquired the Journal of Asian Studies and several journals of the Commonwealth Agricultural Bureau. Foundation Books which has been the strategic partner of Cambridge University Press looks after CUP's interests in South Asia including handling the markets of Sri Lanka, Bangladesh, Nepal, Pakistan, Maldives and Bhutan.

UNI ARB CS PM1631