Not a single day passes by in India without some smartphone or a computer making it big in online sale. Wednesday alone saw Lenovo selling 30,000 new K3 Note black version in 3.9 seconds and 19,800 units of the white variant in 4.3 seconds.
Not far behind, heralding similar online sale for the first in motorbikes, India’s age-old Royal Enfield bike manufacturer Eicher said it had sold all 200 units of limited edition motorcycles within 26 minutes of opening its online booking on Wednesday.
While the two instances are just cursory events in any given day, it prompted India’s top businessman Ratan Tata, who is rallying behind start-ups in e-commerce in a big way, to vouch for a new Indian merchandising and marketing business.
“For the last three years, I have been a free person. I look at the landscape, I see the future in young managers, the young start-ups. It is what I saw in United States in the 70s and 80s,” he said.
“The ability to think out of the box has made the United States change its appearance from smoke-stacked companies to innovative companies that we see around us today such as Apple, Facebook, etc,” Tata said addressing the students of Great Lakes Institute of Management at its 11th convocation in Chennai.
In the past few months, Tata has invested in close to 10 companies, mostly in the e-commerce space, including Snapdeal and Chinese handset maker Xiaomi.
“I have invested myself in some 10 companies hoping that some of them will succeed. I think it ecommerce companies have great potential.” Tata, who has invested mostly in ‘e-commerce’ space, is confident that the ‘health’ sector was looking more ‘promising’.