“With this Joint Venture, our Group aims to diversify in the Media & Entertainment sector globally. In the first phase, we will be focusing on producing, aggregating and distributing unique content across key geographies including Indonesia. The first will be a film produced in Indonesia through Pt. SKV Movie Entertainment and there will be many more to follow. In addition there will also be a cross cultural interaction between the Indian and the Indonesian film industries for the mutual benefit of both markets. This in my view would be our own way to participate in the ‘Make In India’ initiative by promoting and popularizing ‘Made In India’ content in international markets”, speaking on the development, Sailesh Hiranandani, Chairman of SRam & MRam Ltd. (UK) said.
The Joint Venture agreement was signed between SRam & MRam Ltd. (UK) and Kalam Media at Jakarta. Over the next 3 months, the JV company would establish its base in key Indian cities including the top 8 metros, directly and through associates. Parallely, the JV will forge alliances with global entertainment and developmental platforms across 12 key business centers the world over – in the Americas, Europe and Far East.
“We are excited to partner with SRam & MRam Ltd. (UK) in this unique initiative, through which we aim to change the dynamics of the global market for Indian content. The Indian entertainment and content software has significant potential in the Global village of today, and we will partner established networks to produce customized content on demand using our deep-rooted network in India”, said Ashutosh Singh, Chairman, Kalam Media.
Under the ambitious plans, the JV company will also set up content gathering and production training institutes across 4 regional hubs in India so as to train youth to generate low-cost saleable content. SRam & MRam Kalam Media Pvt. Ltd. plans to train close to 5000 individuals under their Vision 2020. Using a hybrid collaborative, public-participation model, SRam & MRam Kalam Media Pvt. Ltd. aims to create over 3000 employment & self-employment opportunities within 2 years of its launch.
It also plans to make significant inroads in the NRI mind space through a dedicated portal “For the Indians, by the Indians, of the Indians” that would be powered with multi-platform apps in its second year. This would enable SRam & MRam Kalam Media Pvt. Ltd. to target the 10 Million (1 crore) plus Non-Resident Indians who have significant appetite for Indian diaspora. The JV company aims to break-even in third year of its launch scheduled in November 2016.
In the entire process of the JV, Capitico PRG would provide its services to both partners for smooth running of operations. Its role would primarily be to hold equity in the Indian entity, be part of the management group and manage financial aspects of the entire deal.
Source: NewsVoir