In a big thumbs-up for the Startup India and Make In India drives by the NDA government, former Tata Group Chairman Ratan Tata today hoped Prime Minister Narendra Modi succeeds in bringing investment to the country – he was responding to queries during the Invest Karnataka Global Investors' Meet. Here are top 10 Ratan Tata quotes on the topic. (AP)
1. Ratan Tata: What could be the success mantra for startups in India? I wish I knew. However, the success will be in the ability to take a visionary view which the founder cannot see. (AP)
2. Ratan Tata: I hope Prime Minister Narendra Modi is successful in bringing companies to India because the country does need a refreshment of new manufacturing companies which will be a real shot in the arm in terms of supply-chain and research in India. (Reuters)
3. Ratan Tata: The government's support to startups is promising, which hasn't been spelt out totally as yet. People would come to India if it makes business sense for them, either in terms of cost or closeness to the market and raw material and fair prices. (Reuters)
4. Ratan Tata: So the real test comes when they are making their due diligence to decide whether India is the place to invest, not just on the basis of Mr Modi's promise. (Reuters)
5. Ratan Tata: The government does need to step in and support (the startups). The question is how they will support and how justifiably they may take decision on whom they support and whom they turn down," he said in response to a query.(Reuters)
Ratan Tata: Bengaluru-based retail technology startup SnapBizz on Monday said it has raised an undisclosed round of funding from veteran industrialist Ratan Tata. This is Tata’s eighth investment in startups in 2016 so far. Tata, former Tata Group chairman, has invested over 20 startups so far. (Reuters) [15-02-2016]
7. Ratan Tata: In India there was no venture capital community earlier like in the US and its presence now in the country is a good development.
8. Ratan Tata: Seriously, I think the success is in the ability to take really a visionary view usually which the founder does not see where such company could go and take long-term view that most people may not take and it gives us the advantage of taking the company which goes beyond others. The risks and difficulties of these startup ventures are much less in magnitude than investing in a major company that lines up new projects as the quality of their passion is much more relevant in the startup company than it might have in larger investor. (Reuters)
9. Ratan Tata: So I consider the difficulty of them making good judgement in startups are somewhat easier and simpler than the complex and larger companies," he said. (PTI)
10. Ratan Tata: I think it would be inappropriate to valuate what investments have been made by me personally. I wouldn't divulge as it is my personal investment. Why would I tell people about how much I spent to buy cars and other things? However, my company looks at partnerships where investments would look meaningful. (AP)
