(Image source from: Ratan Tata buys stake in Xiaomi)

The former chairman of the Tata Group has created new history by becoming first Indian to buy the stake in China's largest smartphone maker, Xiaomi. Since his retirement as the Tata Group chairmen, he has invested in several emerging startups like Snapdeal, Urban Ladder, Bluestone, Cardekho and Paytm in India.

The Xiaomi is termed as world’s most valuable technology startup at $45 billion. The executives at Xiaomi are expecting suggestions and lead to expand the firm globally. "Mr Tata is one of the most well-respected business leaders in the world. An investment by him is an affirmation of the strategy we have undertaken in India so far. This is just the start of an exciting journey," said Lei Jun, founder and CEO of Xiaomi.

The handset maker has entered into Indian market in July 2014 and became fifth largest smartphone vendor in India. Ratan Tata, who is considered as the business leader, would become a valuable mentor for the firm to achieve further heights.

-Kannamsai