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Netflix plans to set up a full-fledged office in Mumbai
Netflix will set up its office in Mumbai, which will be its fourth base in Asia, after Tokyo, Singapore and Taiwan
With an aim to increase its presence in India, video streaming service provider Netflix is planning to set up its full-fledged office in the country.
The company is also planning to come up with new payment platforms and will also invest in creating new content for the Indian audience.
Netflix will set up its office in Mumbai, which will be its fourth base in Asia, after Tokyo, Singapore and Taiwan.
"India is hugely important for us in the long term, because it's one of the strongest internet markets and internet TV is the future over the next 10-20 years, given that linear TV will decline in viewing eventually," said the company's chief executive Reed Hastings.
He added that India had seen the highest growth among all Asian markets for the company's streaming service.
"It's a great opportunity to get in at the very beginning of internet TV, which will rise in India as phone networks as well as international players like YouTube and Netflix do more on the internet in India" said Hastings."We want to be in the top five apps on the (consumer's) phone," he further added.
Currently Netflix has around 94 million users, out of whi ch 44 million are based outside the US market.
On Monday, the company has announced its partnership with telcos- Bharti Airtel Ltd and Vodafone India and direct-to-home (DTH) television operator Videocon d2h.
Netflix is also looking to tie up with Reliance Jio, as it seeks to reach out to India's 300 million plus internet users.