The recent Tata Sons and Cyrus Mistry controversy had made Rata Tata take a break from him startup initiatives and focus on getting Tata Sons back on its feet. The industry veteran, who has finally decided to hand over the reins of Tata Sons to N Chandrasekaran, will soon be returning to the Indian Startup ecosystem from 23rd of this month. In a recent statement, Tata advocates that India should remain an open market that it currently is but also called for more regulatory intervention into the ecosystem in order to keep a curb on unfair competition.
Commenting his views on protectionism and capital dumping in a startup event organised by Kalaari Capital, Tata, who is an advisor to Kalaari, said that regulators urgently need to focus their attention on areas where there is unfair competition in the startup ecosystem, which is being done with an intention of killing newer startups. According to him, the regulators need to ensure that there is enough latitude and enough of a playing field for everyone to have a fair chance.
Rata Tata has invested in over 20 startups till now which includes names of startup world biggies like Ola, Snapdeal, Madrat Games, Urban Ladder and Nestaway. Since October last year when the whole Cyrus Mistry controversy broke out where the Tata Sons board sacked Cyrus Mistry as chairman, Rata Tata decided to take a temporary leave from his startup involvements and focus his complete attention on finding a new head of Tata Sons.
N Chandrasekaran, who is currently serving as the CEO of TCS, will be taking over as Tata Sons chairman on February 21.
The Kalaari Capital event saw several Indian startup entrepreneurs calling for protection against the so-called “capital dumping” by global giants such as Amazon and Uber, who have committed to invest big bucks in India.
In a recent blog post, Kalaari’s founder Vani Kola had sought protection for Indian internet startups arguing the fact that global biggies like Uber and Amazon were dumping huge capital in the country in order to garner bigger market share at the cost of their domestic rivals such as Ola and Flipkart. Her opinions are in resonance with Ola’s Bhavish Agarwal and Flipkart’s Sachin Bansal who have time and again asked for the Indian subcontinent to be open to accepting foreign capital into the market but not foreign companies.