Consumer electronics major Thomson is scouting for Indian partners through which to enter the post-production business in the country's entertainment market, said Olivier Lafaye, president of its Asian operations. The company is open to equity participation, a takeover or a joint venture for its Indian operations, he added.
"With television and cinema booming in India, we want to get into content creation and development and distribution. Bollywood is going global and we want to grab hold of the opportunity and want to work with post-production companies in India. We are also keeping our options open to enter into DTH (direct to home) and digital cinema business. Within a year, our Indian operations should grow significantly," said Lafaye, on the sidelines of "Southern Multinationals - A Rising Force in the World Economy" conference organised by the Financial Times and International Finance Corporation in Mumbai on Thursday.
Though he didn't disclose financial details, Lafaye hinted that India, along with China, will be Thomson's hubs in Asia. The region now contributes 10 per cent of the company's $10 billion annual revenues. "We expect to double the Asian share in the next five years," added Lafaye.
The company is looking towards its sound and video equipment business to help it achieve its India plans.
"We know almost everybody through our equipment selling business here. Moreover, India has a sound foundation in the technical area of content creation. But it is still small compared to US and Europe standards. Nevertheless, there is an increasing trend of post-production outsourcing from Hollywood to India."
Thomson is also set to double its 300-employee strength in its BPO arm in Bangalore. The centre will also contribute to design and product development for its global operations.
Earlier this year, Thomson had entered into partnership with Tata Group's VSNL. Under the agreement, Thomson and VSNL will jointly explore opportunities and combine their expertise to offer services and new technologies to the Indian media and entertainment market. Later, Videocon had acquired Thomson's picture tube business.
