Colorama for Python, Not returning colored print lines on Windows

I've installed colorama for python. I've imported the module as follows:

import colorama
from colorama import init
init()
from colorama import Fore, Back, Style

print Fore.RED + "My Text is Red"

and it returns the ANSI charaters....

esc[31mMy Text is Red

This isn`t what I expected. Am I doing something wrong.

Thanks.