Berlin  - Axel Springer, publishers of two of Germany's biggest newspapers, is to enter the Indian market in a joint venture with the India Today Group, the German media group announced from its Berlin headquarters Thursday.
The new concern, called ITAS Media, is to be based in New Delhi, said Axel Springer, which puts out the mass-circulation Bild newspaper and the conservative broadsheet Die Welt.

The first publication, an Indian version of the motoring magazine Auto Bild, is to appear on Friday, making India the 33rd country where Auto Bild is published.

The magazine, billed as the world's largest-circulation motoring magazine, is to appear once a fortnight with a cover price of 40 rupees (95 US cents)

The two companies have further print and online projects in the pipeline, according to Axel Springer.

Axel Springer International President Ralph Buechi said the new joint venture was part of the company's expansion programme in Asia.

India Today publishes the Indian news magazine of the same name with a print run of 1.1 million copies.(dpa)