Bengaluru: Tata Group patriarch Ratan Tata today said that though US President Donald Trump has thrown up some new challenges, Indian entrepreneurs and business captains have the ability to reinvent themselves to meet them.
"I think the challenges for the last several months for me personally and also for startup community have been challenging. Mr Trump has given new challenges and I am quite sure we can reinvent ourselves to meet those challenges, and look back at having made a difference," he told the gathering assembled at K-Start, a startup event organised by Kalaari Capital here.
The interaction was moderated by Kalaari's founder Vani Kola.
On issues of protectionism and capital dumping, Tata said one cannot generalise, but sometimes blocking is worthwhile and at other times, it amounts to stifling competition.
"Sometimes, the blocking is worthwhile blocking, and at other times, it is just stifling competition. It is a difficult question to answer and generalise," he said.
However, he said a person like him would look for more of an open environment, "as open an environment that we can expect, and we should not be concerned about blocking as we see it at various times."
Nevertheless, Tata advocated that unfair competition being indulged in by some corporations needs to be controlled by the regulators because they do it to kill new startups.
"This (protectionism) is the dictum of yesterday. I think the regulators need to focus on areas where there is unfair competition which is done to kill the new startups, but ensure there is enough latitude and enough of level-playing field where everyone has a chance," he said.
On issues of liquidity and exits faced by startups, Tata said he wouldn't make any comments on it because luck, intuition and personal judgement also played a very vital role in any company's success story.
Tata said he is looking forward to reinserting himself in the startup community which gives him tremendous stimulation and hoped to contribute to this sector.
Referring indirectly to the Cyrus Mistry controversy, Tata said the last five months had forced him into the older mould, but that he longed to be back among the startup community with vigour on February 23.
Tata will resume working with startups from February 23 after handing over the reins of Tata Sons to N Chandrasekaran.
"I am looking forward to that day with greater vigour," he said.
On what CEOs should not compromise on, Tata said the difference in real leaders comes when they are willing to face the consequences to do whatever they feel is right.
"I think that is the mark of a true leader to face difficulties when it is there and that's the kind of spirit we need to lead the country on, in the future. It is not the easiest thing to do," he said.
Asked how crisis could be tackled Tata said the only thing he would say was that if one has a crisis, it should be dealt with in the correct way "so that you can hold your head high and say you have made a difference, not that you have swept it under the carpet," he said.
On what advice he would give to celebrity CEOs, Tata said success should not go to their heads and they need to be humble.
"Thinking that they know everything... it will be like the kiss of death in terms of what they need to do," he said.
Instead, such CEOs should foster new entrepreneurs at a time when India boasts of having a potentially untapped huge market as against being called a country of shopkeepers.
"Let's not lose the momentum that we have. Let it not die. Let's build on what we created for ourselves," he said.
"The US often is deemed to be successful because it has the ability to reinvent itself and I think, this community has the ability to reinvent India in terms of meeting the challenges of tomorrow," he said.
Instead of frowning on competition, the industry should embrace competition and be part of it, Tata said.
He advised big and small startups to think big because India is a big country and has a large market of growing capability of consumption.
(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)
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