Forbes and Spectator have also recently launched their Indian editions.

The Indian Ministry of Information and Broadcasting has granted permission to the magazine under the condition that it permit government agencies to inspect the facilities necessary for publishing the Indian edition, as and when required.

Fortune has also been told that at least three-fourth of the directors on the Board of Directors of Business Media Private Limited and all key executives and editorial staff should be resident Indians.

Fortune, part of Time Inc.'s Fortune/Money Group, is popular globally for its annual ratings given to businesses and companies. The group also publishes magazines such as Life, Time and Sports Illustrated.