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Raju Narisetti, former deputy managing editor of The Wall Street Journal in New York and editor of The Wall Street Journal Europe, will edit the new title.

HT Media is India's second-largest print media company, publishing The Hindustan Times. Founded by Mahatma Gandhi in 1924, its sales are 2.25m and has a readership of 14.49m.

Rajiv Verma, chief executive officer HT Media, said: "To create a world-class business paper in India, we need the best global talent as well as compelling and relevant content.

"This unique content partnership between HT Media and The Wall Street Journal emphasises our desire to offer a business newspaper to Indian readers at a time when India has become a global player in myriad industries.

HT Media is in the process of finalising its plans and is currently evaluating the market. An editorial and management team are already in place. HT Media will release details about the launch date and name in the next few months.

Verma said: "The Wall Street Journal is the best content partner in this endeavour because of its unmatched journalism and insights into global businesses, markets and economies and its unrivalled journalistic standards worldwide."

The Wall Street Journal, which has now has a print and online circulation of nearly 2.1m, publishes special editions as part of 39 newspapers in 41 countries, in 10 languages, giving its content a global reach of nearly 5.4m.

L Gordon Crovitz, executive vice-president at Dow Jones & Company and publisher of The Wall Street Journal, said: "We're excited that the Journal will soon offer Indian business readers, access to the incomparable global business information that readers across the globe have come to expect.

"India has emerged as a vibrant and expanding part of the global economy that we have sought better to serve with the right partner and we look forward to a role in helping spur those global connections between India and rest of the business world."

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