Indian e-commerce giants including Flipkart, Ola and MakeMyTrip are planning to launch an industry body that will represent the interests of local ventures and will also create moat against big global rivals.
The lobby group Indiatech.org led by Sachin Bansal, CEO of Flipkart is planning to appoint a former IAS officer as CEO. The other founding members include online classifieds player Quikr and messaging application Hike.
Big Investors Plan to Join the Group
Entrepreneurs have invited some of the world’s biggest investors to join the group, some of whom are also their backers such as Japan’s SoftBank, New York-based Tiger Global Management, Hong Kong-based hedge fund Steadview Capital as well as venture capital firms like Accel India and Matrix Partners India.
Also, there is no clarity whether Paytm, Shop-Clues and Zomato will be part of Indiatech.org or not.
Indiatech.org Plans to Scale up Internet Business
Aside from lobbying against abroad rivalry, the gathering’s contract additionally incorporates issues like occupation creation, abilities preparing and giving assets to scale up the Internet business.
Indiatech.org, which is required to begin employing in the coming week, has been in progress for over a year now, with Bansal driving the charge.
Providing cohesive voice and Structured Platform
The creation of Indiatech.org gives a cohesive voice and structured platform to nearby players. This estimation has been reflected by top officials, who feel there is no clearness yet on what particular measures nearby business people need.