Tata Sons Chairman Emeritus Ratan Tata today said that e-commerce will change the face of merchandising and marketing in India.
Tata, after his retirement, has invested in ten companies, mostly in the e-commerce space.
Strong managers and start-ups created a disruptive environment in the US in the 70s and 80s, giving birth to innovative companies like Apple, he said.
"This is now happening in India," he said at the convocation ceremony at Great Lakes Institute of Management.
On Nano, Tata said that it was a mistake branding it as the cheapest car rather than calling it the most affordable. This, he said, created a negative impact. But he added that the Nano was designed by people aged between 25-26 years and it was an exhilarating exercise designing a car for Rs 1 lakh.
The one-year delay because of the West Bengal government allowed competitors to spread wrong messages about the car, he added.