This cry for help by the protectionist lobby is not very different from a schoolyard bully calling for help from a teacher at the entrance of a more muscular bully Bhavish Aggarwal, CEO and co-founder of Ola, an app-based cab service provider. Indian law has a very clear definition of the ‘Indianness’ of a company. Incorporated in India, and majority owned and controlled by Indians and Indian entities(Reuters)
A chorus is being orchestrated in Indian media and government circles about the need to protect Indian Internet companies from US firms such as Uber Technologies Inc and Amazon.com Inc. Nationalism is a sure way to get everyone’s attention these days, but policymakers in New Delhi are, wisely, not buying into any of the arguments being presented – at least, not so far.
In the past few months, some of the purportedly Indian companies seeking protection, including Flipkart Ltd, and ANI Technologies Pvt Ltd (which runs Ola), have worked towards forming a lobby group. An executive at a multinational venture capital firm tells me that a person has been identified to head this body, although no announcement to this effect (or indeed, about the body’s formation) has been made. Meanwhile, Ravi Mehta, […]