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UK Book Layout P IIA for PDF.Pmd Reuters Background newspapers and handed over its domestic news organization, to the newly formed Press Trust of India. Reuters is a global information company providing information tailored for professionals in the financial As India began to liberalise its economy in the 1990s, services, media and corporate markets. Although Reuters was the first to bring real-time financial news the company is known as the world’s largest about India to India’s foreign exchange dealers and international multimedia news agency, around 91 treasurers. During 1992, Reuters recognised that several per cent of its revenues are derived from its financial UK broadcasters, including BBC, had a pressing need for services business. a daily video news service from Delhi. In partnership with Founded in London in 1851, Reuters today has a global Asian News International, Reuters launched the daily presence, having operations across 196 bureaux in 91 ‘Subcon’ feed in 1993 to meet this need. Carrying stories countries. The company employs about 14500 staff, gathered throughout the Indian subcontinent, it quickly who provide information and services to nearly 330000 gained subscribers around the world, including in Canada professional users worldwide. The company gathers and US, and now extends to three transmissions spread information from over 300 exchanges and OTC across the daily schedule of the Reuters video news service. markets, and keeps updated information on more than Today, Reuters has more than 500 customers and 1900 35000 companies worldwide. Reuters Group clocked subscriptions in India. In addition to its business and revenues of around US$ 5 billion in 2004. media services, Reuters has other important connections with India. These include activities channeled through Reuters in India Reuters Foundation: Journalist training, Fellowships, Reuters began to supply regular news from and about AlertNet and Charitable Giving. India in 1858. The company established its first news bureau in India in 1866. Its financial information and Reuters launched a global centre in Bangalore in 2004. news business employs around 1,100 people in the Reuters Bangalore, which currently employs about 1000 country. staff, is one of four key locations around the world providing world class information to Reuters’ products Reuters has expanded across India since its entry in for professionals in the financial services, the news media the country. By 1928, India accounted for 21 per cent of Reuters’ global revenues, more than any other and corporate markets. Reuters considers the Indian country. In 1947, after India’s independence, Reuters regulatory environment to be transparent and regulatory surrendered its teleprinter circuit to local agencies and bodies like RBI, SEBI to be effective. UK COMPANIES IN INDIA PAGE 76 Reuters plans to increase investment in new markets. It is scaling up its operations in China and India, building an online presence through reuters.com, mobile phones and IPTV to reach individual investors; and targeting growth in trading of new asset classes such as emissions, weather derivatives and property for further opportunities to launch electronic trading systems. The company plans to improve coverage on India news by showing it in other countries as well. It also plans to provide information service on commodities markets as they are expanding. This market has more Strong relationships with customers is international impact and thus Reuters’ role is significant. the key success factor for Reuters India In 2005, Reuters announced a partnership with Times Group of India to launch a 24-hour English news Reuters’ key success factor is the relationship it has channel, Times Now, which will draw on Reuters’ news built with customers over two decades by selling gathering network from around the world. Reuters will enterprise-wide services such as data feeds and market also supply branded programming to the channel, in a data systems. Reuters now plans to market these deal designed to support its strategy of growing its enterprise capabilities more cohesively and sell suites consumer media business. The channel will include of components, designed to meet a greater proportion Reuters branded programming from across the world. of customers’ needs in specific growth areas such as By this, Reuters is for the first time reaching out to the algorithmic trading. retail market, anywhere in the world. Reuters leverages India as an outsourcing hub All financial services for the company’s global operations, have been centralised in Bangalore. Reuters’ Global Shared Services Centre in Bangalore services all five global regions of the company. Recently, the company has experimented with outsourcing editorial coverage of mid-cap U.S. companies to its global centre in Bangalore. Reuters India: At a glance In 2004, the company set up a Data Content Group • Reuters: Global Information Company. 14,500 staff in 91 countries. Revenues of in Bangalore, that collects, cleans and manages the huge around US$ 5 billion in 2004 amount of data that Reuters handles. Reuters has 4-5 such centres globally. The company chose India because • Reuters in India: Established its first news bureau it offered access to low cost, highly skilled employees. in 1866. 500 customers and 1900 subscriptions in India Future Plans • For company, India is: strategically important. India is strategically important for Reuters. Though • Factors for success: Strong relationships with revenues for Reuters are miniscule from India as of customer now, the company’s focus is on investing now for future • Future plans, India: To increase investments in growth. The company plans to have 10 per cent of India. To improve coverage on India news global workforce in India by end of 2005. SUCCESS STORIES PAGE 77.
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