Alibaba to enter Indian ecommerce market in 2016

21-Mar-2016 #Digital India Source: India Inc

Alibaba Group, the Chinese ecommerce giant, is now aiming to capture $38 billion Indian ecommerce market and is looking out for opportunities to build the business organically or through other means.

J Michael Evans, Alibaba Group President, said: “We are planning to enter the e-commerce business in India in 2016. We have been exploring very carefully the e-commerce opportunity in this country, which we think is very exciting on the backdrop of Digital India.

“We have investments in both payments and e-commerce already and we will over the course of next year will figure about exactly what our strategy is.”

Ravi Shankar Prasad, the Telecom Minister, India, said: “We hope Alibaba will come and have a good footprint in India, including the expanding business of ecommerce (for which) they are exploring the possibility. I have said very clearly that Alibaba is quite free to come and expand its footprint in India.”

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