Two popular magazines, TIME and The Economist have ushered in the new year by increasing their prices.
TIME is now Rs.150 per issue as against Rs.120 earlier, that is an increase of 25%. Its price has not been increased by this high percentage for any other country. In fact, the price in China remains the same at RMB 55. This is despite the fact that the Chinese currency has weakened more that the Indian Rupee last year.
The newsstand price of The Economist is up from Rs.220 to Rs.300, an increase of 36.36% Again, India bears the brunt. The price is not increased for any other country!
At a time when the Indian currency is more stable than other currencies, this is very surprising. Are the resident Indians getting penalised for evincing more interest in foreign magazines? These magazines are obviously charging what the traffic will bear. They have, correctly or otherwise, found that Indian readers were enjoying more consumers' surplus.
TIME is now Rs.150 per issue as against Rs.120 earlier, that is an increase of 25%. Its price has not been increased by this high percentage for any other country. In fact, the price in China remains the same at RMB 55. This is despite the fact that the Chinese currency has weakened more that the Indian Rupee last year.
The newsstand price of The Economist is up from Rs.220 to Rs.300, an increase of 36.36% Again, India bears the brunt. The price is not increased for any other country!
At a time when the Indian currency is more stable than other currencies, this is very surprising. Are the resident Indians getting penalised for evincing more interest in foreign magazines? These magazines are obviously charging what the traffic will bear. They have, correctly or otherwise, found that Indian readers were enjoying more consumers' surplus.
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