The Economic Times



The Economic Times (ET) is an Indian English-language daily newspaper published by Bennett, Coleman & Co. Ltd. First published in 1961, it is the world's second-most widely read English-language business newspaper, after the Wall Street Journal, with a readership of over 800,000.

Since 1995, the newspaper has been headquartered in Mumbai, Maharashtra. It is one of the largest newspapers in India, by circulation and advertising revenue. The Economic Times is published simultaneously from 12 cities—Mumbai, Bangalore, Delhi, Chennai, Kolkata, Lucknow, Hyderabad, Jaipur, Ahmedabad, Nagpur, Chandigarh, and Pune.

"The Economic Times" is a member of the Asia News Network and Association of Business Journalists. It is one of the Indian newspapers that are widely sold in the United States. The Economic Times is owned by Bennett, Coleman & Co. Ltd (BCCL), which also publishes the "Times of India" and the "Hindustan Times".

The Economic Times was launched in 1961 by R. H. Sheth, founder-publisher of the weekly newspaper "Business Standard", and his partner Sahu Shanti Prasad Jain (a prominent businessman who later became a member of parliament). The paper published its first issue on 3 November 1961 from two rooms rented at a hotel in downtown Mumbai. In 1965, after a struggle between the partners, Shanti Prasad Jain bought out R. H. Sheth's stake in the company for Rs 2 crore (Rs 20 million).

The paper started publishing daily on 9 July 1966. In the late 1970s, when its sister publication "Business Standard" was just beginning to hit financial difficulties, the proprietor of "The Economic Times", Sahu Shanti Prasad Jain, stepped in and saved it by buying a majority stake from R. H. Sheth.

In the late 1980s, when Shanti Prasad Jain was in ailing health and his son Aditya Vikram Jain was studying abroad, ownership of "The Economic Times" passed on to the founder's younger brother, Ashok Jain. The change in ownership did not have much effect on the paper's policy until 1995 when it did away with its "no-profit, no-loss" policy and began making profits. This move was credited

with rescuing the paper when many other Indian newspapers were suffering losses. In 1998, the Jains sold a 51% stake in "The Economic Times" to UK-based Apax Partners, which also owns the "Financial Times".

In November 2005, "The Economic Times" launched a Hindi edition, "Din ka Ek Din", and announced plans to launch a Gujarati edition. In April 2006, it launched an edition in Mumbai targeting readers younger than 25 years. In January 2007, it launched an edition in Pune, its fourth in the state of Maharashtra.

In July 2007, "The Economic Times" launched a lifestyle magazine called "Glimpse", which was distributed with "The Economic Times". The publication was shut down after nine months due to low readership. In January 2008, it launched an edition in Hyderabad and later in Bangalore and Jaipur.

In November 2008, "The Economic Times" announced that it would launch an international business paper for the Indian diaspora in four major cities of the United States. The paper was launched on 16 April 2009 in New York City, followed by launches in San Francisco (7 July), Washington, DC (9 August), and Chicago (15 September).

In 2010, "The Economic Times" opened its third international office in Dubai to cover the Middle East region.