Ratan Tata has become the first Indian to pick up a stake in China’s largest smartphone maker, Xiaomi. The 78-year-old has invested an undisclosed amount in the company. Senior executives at Xiaomi told that they would seek Tata’s advice on how to expand to international markets and become the number one phone maker in the country in the next three years.
Tata had earlier invested in startups like Snapdeal, Urban Ladder, Bluestone and Cardekho. In March, he picked up a stake in mobile commerce firm Paytm as well.
Always Seek Knowledge:
- About Xiaomi:
- Xiaomi is a privately owned Chinese electronics company headquartered in Beijing, China.
- Xiaomi is now the third largest smartphone maker in the world.
- On December 9, 2014, the High Court of Delhi granted an ex parte injunction that banned the import and sale of Xiaomi products in India.
- About Ratan Tata:
- Ratan Tata is an Indian businessman and chairman Emeritus of Tata Sons.
- He stepped down as the chairman of Tata Group, on 28 December 2012 but continues as the chairman of the Group’s charitable trusts.
- Tata began his career in the Tata group in 1961.
- He has been awarded Padma Bhushan and Padma Vibhushan.
- Other Relevant information about China:
- Capital Of China: Beijing
- Currency Of China: Renminbi
- Republic of China: 1st January 1912.
- China is the second largest country in the world by land Area. First is Russia.
- China has the longest combined land border in the world.
- China borders 14 nations, more than any other country except Russia, which also borders 14.
