New Delhi: Ratan Tata, Tata Group’s former chief has acquired a stake in Chinese handset maker Xiaomi. It is the first investment by any Indian in the smartphone maker. But this company declined to disclose the quantum and value of the his stake.
According toManu Jain, head of Xiaomi India, company is excited to get Ratan Tata in the board.
After retirement from Tata Sons chairman post, he is now chairman emeritus of Tata Sons. Then he made personal investment in different e-commerce players like Snapdeal, Urban Ladder, Bluestone and Cardekho.com. In last March, he also invested in mobile commerce firm Paytm. India is their biggest market outside of mainland China. So their goal is to become number one in the next 3-5 years and we are keen on partnerships here.
They are building an R&D team here and setting up data centre. This company wants to manufacture and also invest in startups in India.