Founding members of the lobby group, IndiaTech.org include Flipkart, Quikr and Hike (all Tiger funded, incidentally).
“The main thrust of the lobby group will be to persuade the government that homegrown startups should dominate the local Internet ecosystem.”
Sachin Bansal, co-founder of Flipkart, will be the founding president and chairman of the lobby group and is likely to appoint a former IAS officer as CEO. [Source]
Basically, it is a collective version of what Sachin Bansal and Bhavish have earlier been talking about – i.e. to stop global companies from playing the discounting game.
Agree that we need to do something about foreign competition (?), but are we also protecting Indian companies against well-funded Indian companies? The latest example being Abof – they aimed for profitability, but couldn’t stand against the discount-led competition.
Where will we draw the line? And are global companies just about more $$ (and not better products / efficient operations) ?
https://www.nextbigwhat.com/indian-startups-foreign-competition-297/
Who are the ‘local’ and ‘foreign’ players in this bloodbath? How do we define ‘local’ companies when Chinese investors own more than 60% of the top startups.
