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.”Tagged: Investment, Digital India, eCommerce