IDG plans Rs 100 cr investment in India

International Data Group (IDG), the $2.5 billion technology media, research and event corporation, plans to invest close to Rs 100 crore in India over the next five years.

This is part of IDG establishing its direct presence in India after the Centre allowed 100 per cent FDI in India for scientific and technology publications. IDG already has presence in India by licensing its IDC brand to Cybermedia India.

IDG India will function as a full service hub for IDG's global 300 plus publications, including the launch of a magazine on outsourcing targeted for distribution worldwide.

In addition to publishing and seminars and exhibitions, this privately held corporation is looking at setting up an India-specific venture capital fund. The company has applied to FIPB for clearance and IDG is planning $200 million worth of investments over the long term in India for its entire range of operations here.

Said David Hill, president & CEO, International Publishing Services, IDG: "India's growing influence in the world IT market space makes a direct presence in India a natural and logical choice for IDG. We intend to make IDG India a significant part of IDG's global operations."

IDG plans to launch around six print titles to start with in India and most probably PC World which was in India through a licensing arrangement five years ago will be relaunched here.

He further added that the licensing agreement with Cybermedia for IDC will continue.

Commenting on the IDG's VC plans, Hill said that they plan to have a fund "on similar scale as China" in due course. IDG has so far invested close to $200 million in China.