As India attracts global internet businesses to the country, local poster boys are playing the nationalism card to urge the government to favor domestic companies.
Founders of two of the most iconic Indian internet businesses — Flipkart and Ola — have advised the government to take China’s approach and bend policies to foster homegrown companies.
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“What we need to do is what China did (15 years ago) and tell the world we need your capital, but we don’t need your companies,” said Sachin Bansal, co-founder and executive chairman of Flipkart.
Once an unrivaled ecommerce business in India, Flipkart today battles with Amazon India for the tentpole position. Though Amazon only entered the country three years ago, CEO Jeff Bezos’s announcement earlier this year to make an additional $3 billion investment in India made clear how he sees the country. Read more…