Rupert Murdoch's News Corp plans to invest $100m (Ј50.8m) over the next year to start six regional television channels in India.
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Mr Murdoch also said he would double the number of staff at Dow Jones Newswires, which he bought along with the Wall Street Journal last year.
The expansion plans underscore Mr Murdoch's commitment to one of the world's fastest growing media markets.
News Corp also has a presence in China through its Star network but some analysts think India's more open media sector could provide greater opportunities.
Mr Murdoch also announced the launch of a 30-strong stock index, called the Dow Jones India Titans, that would track the performance of prominent Indian companies including Reliance Industries and Infosys.
News Corp bought Dow Jones & Co for about $5.6bn last year and is an aggressive buyer of media companies worldwide.
The company also owns MySpace and Twentieth Century Fox.
(BBC)
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