India’s top Internet companies led by Flipkart have created a lobby group called Indiatech.org that will represent the interests of Indian Internet start-ups to fight their international rivals, one person familiar with the matter said.
Co-founder and executive chairman Sachin Bansal will lead the lobby group, the person said.
The news was reported earlier on Thursday by The Economic Timesnewspaper.
Apart from Flipkart, Ola, Hike and some other Indian Internet companies will be part of the lobby group.
Mint had reported in October 2016 that an effort to create a lobby group for Indian Internet companies is being led by Flipkart’s Bansal.
The lobby group will represent the interests of local companies such as Flipkart, Ola, Hike and others. The association will push the government to pass favourable laws for Indian companies, countering Chinese and US consumer Internet firms as well as India’s powerful brick-and-mortar retail lobby.
The new lobby group may find it complicated to act in a unified way. Two Chinese Internet companies, Alibaba and Tencent, are large investors in the largest Indian Internet start-ups, Flipkart and Paytm. Even Amazon.com Inc is gradually increasing its investments in Indian companies.
This story was first published on Livemint