Indian industrialist Ratan Tata buys into Chinese smartphone maker Xiaomi

Ratan Tata, a former chairman of Indian industrial group Tata Sons, has made a personal investment in smartphone maker Xiaomi, the Chinese company said on Sunday, without disclosing the amount.

This is the first investment by any Indian into Xiaomi, according to the Beijing-based company, and comes as Xiaomi steps up its push into the fast-growing Indian market.

"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," Xiaomi founder and chief executive Lei Jun said in a statement on Xiaomi's India Facebook page.

"This is just the start of an exciting journey, and we are looking forward to bringing more products into India," he said.

Xiaomi entered the Indian market in July last year, seeking to recreate its success in China, where it has become the top smartphone brand. In October, the company said it sold 100,000 of its Redmi 1S phones in India in just 4.2 seconds as part of an online flash sale event.

On Thursday, Xiaomi hosted its first global launch outside of China in the Indian capital New Delhi, unveiling its feature-heavy Mi 4i model that supports six Indian languages and costs 12,999 rupees (US$204).

According to market research firm Canalys, 23 per cent of smartphones sold in India cost less than US$100, while 41 per cent were priced between US$100 and US$200.