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Tycoon Gets Stake in Market

More than the investment itself, a thumbs up from the chairman emeritus of the Tata Group, who is one of the most respected business figures in India, adds to the Xiaomi mojo which has already cast a spell over the country. Lei Jun, founder and CEO of Xiaomi, says: “Mr. Tata is one of the most well-respected business leaders in the world. An investment by him is an affirmation of the strategy we have undertaken in India so far. This is just the start of an exciting journey, and we are looking forward to bringing more products into India.” Xiaomi has said right from its entry into India that this is its second most important market after China. That’s not just because of the huge demand for smartphones but also for its tech savvy crowd who can appreciate Xiaomi’s value-for-money proposition.

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