Xiaomi Founder and CEO Lei Jun said in November 2017 that India, the world’s second most populous market, is Xiaomi’s top priority and that the company plans to invest US$1 billion in 100 Indian start-ups over the next five years to create an ecosystem of apps for Xiaomi phones. Ran Chuangchuang, an analyst with Beijing-based iResearch, disclosed the Beijing-based company is also eyeing the sale of products including laptops, computer accessories, lifestyle goods, and even financial-related services such as the payment bank business in India. He added “It is not a surprise, but a necessity if Xiaomi now has plans to build its own cars. All Chinese technology giants and many rising start-ups are investing heavily in autonomous vehicle designs. As Xiaomi has been actively mapping out its plans to build up its internet-based ecosystem, it is impossible that it has nothing planned for its own autonomous vehicles.” Lei jun also said Xiaomi will bring around 200 products to India, not just smartphones, but a variety of products including many tailor-made for the Indian market. He said “We have adopted the India No 1 strategy, which includes design, R&D, manufacturing and supply.”