Protect Indian Start Ups Against Foreign Capital Dumping #saveindianstartups
This petition had 42,116 supporters
MAKE IN INDIA BY PROTECTING INDIAN START UPS.
While Indian entrepreneurs work hard to start innovative companies, the lack of gut in our protectionist policies is harming them. The Govt of India, and the Courts must make it a priority to protect Indian start ups from capital dumping by foreign companies. If not, our companies will be victims of hostile take overs or bankruptcies very soon. Do we want our consumer Internet space to be largely controlled by foreign corporations?
India is so busy begging for foreign investment that very few have noticed how it's demeanour is affecting local companies who are being true to the vision of Make in India.
Today, it's easier for a foreign business leader to get an appointment with our policymakers than it is for local business leaders. Why? Is Indian money not as good as foreign money?
Over the past few months, the valuations of Indian born companies like Ola and Snapdeal have been struck down by firms like Softbank and Morgan Stanley. Although companies like Ola and Snapdeal have attracted handsome investments from VC's, it is true that they don't stand a chance against the deep pockets of firms like Amazon, Uber, and Airbnb who will stop at nothing to conquer the Indian market.
Fact: Amazon plans to "invest" $3 billion to capture India's market, where as the incumbent Indian Govt's fund for start ups is worth only $1.5 billion. These numbers tell a chilling story for those aspiring entrepreneurs who hope to leave an impression on India's consumer Internet landscape.
China has Baidu (it's own Google), DiDi (it's own Uber), and Alibaba (it's own Amazon), and all of these are local homegrown businesses that today are healthy competition to foreign companies. The reason China was able to build these colossal companies is because of focused protectionist policies that put China First. Americans put America first. It's time we put India First.
There is an overlooked and significant difference between Foreign Investment and Foreign Capital Dumping. Foreign Investments focus around the idea of progress and prosperity, while Foreign Capital Dumping focus on the ideas monopolization, destruction of local industries, and the conquest of budding third world markets. While it's important for India to attract Foreign Investment, our policymakers must carefully monitor the consequences to Indian businesses and make sure to differentiate Foreign Investment from Foreign Capital Dumping.
Certainly there are cases where in protectionist policies can be misused and lead to a lack of innovation. However, there are a large number of truly Indian companies who are trying their very best to stay afloat in this aggressive environment of foreign capital dumping. The Govt and our Courts must protect them.
The most crucial step to the organic development of a third world country is the protection of start ups and SME's. The Indian Govt, and the Courts must make it a priority to protect Indian start ups from capital dumping by foreign companies. If this foreign capital dumping continues, local Indian companies could be the victims of hostile take overs from foreign corporations, making us and our economy slaves to foreigners all over again.
Join us in our call for policymakers to protect Indian businesses from foreign capital dumping. Let's put India First. #saveindianstartups
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