Manas Saikia announces retirement; CUP acquires all shares of CUP India

Saikia created Foundation Books with his partner Vinod Vasishat in 1985, after an exchange crisis made conditions difficult for importing books. CUP acquired a 51% stake in the company in 2006, when it became Cambridge University Press India, increasing its shareholding in 2009.

Commenting on the decision, Cambridge University Press said that under Saikia’s leadership, CUP India had seen huge growth. Saikia also helped to lead the fight against large-scale piracy and the development of cost effective copyright clearance, helping to create the Association of Publishers in India (API) and the Indian Reprographic Rights Organisation (IRRO).

Saikia has had a long 28-year association with Cambridge University Press, since he joined in 1985 as a sales representative.  In 2006, Cambridge acquired a stake in Foundation Books which then became Cambridge University Press India. Cambridge increased its share in 2009 and has now agreed to acquire the remaining shares to give it full ownership.

Hanri Pieterse, Managing Director for Cambridge Education, said, “Our significant growth in India over recent years is due to Manas’s leadership, his entrepreneurial approach to business and life in general, his ability to build exceptional teams, his keen interest in publishing as well as curiosity about new markets and opportunities. Playing a key role in the publishing community, Manas is not only leaving a legacy within Cambridge University Press, but also in the industry which will be difficult to match.”

Peter Phillips, Chief Executive of Cambridge University Press said, “I am very grateful to Manas for all he has done to lay effective foundations for Cambridge's future strength in South Asia. India is already an important market for us and full ownership of our business there will accelerate further investment for growth.”