The poster boys of India’s startup space, Ola and Flipkart are seeking the government’s support in forming policies that would keep foreign rivals at bay, in what has become an increasingly volatile battle of the fittest.
Making his grievance public, Sachin Bansal, executive chairman and co-founder of Flipkart, said that international companies, with their huge cache of funds, can afford to buy out customers by offering better deals, and added that the battle is not about innovation, but about capital.
“What we need to do is what China did and tell the world we need your capital, but we don’t need your companies,” Bansal said, while speaking at the recently held Carnegie India Global Technology Summit.
He urged the government to allow foreign capital into the country but restrict international companies from setting-up their own businesses here.
