Alibaba To Expand Its Presence In India

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Alibaba To Expand Its Presence In India While expanding its services across the globe, China’s largest e-tailer Alibaba has plans to invest more in India. Jack Ma, the founder and chairman of the Alibaba Group, said he was “inspired and moved” by Prime Minister Narendra Modi ’s speech, which he had delivered in Beijing earlier this year. The Prime Minister had, then, pitched the country as a business-friendly destination.
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Ma, who is on his first-ever visit to India as part of a Chinese business delegation, asserted that the sub-continent is full of potential.
On Wednesday, Ma, a former English teacher, told a group of businessman from India and China in New Delhi that “We will invest more in India, we will work with the Indian entrepreneurs going forward.”

Recently, India, which is Asia’s third-largest economy, has seen more and more global entrepreneurs investing the country’s online retail arena.

As per a joint report by Google Inc., and Forrester Consulting, the number of Indians who shop online will reach 100 million by 2016. The report also added that the Indian online retail market will reach $15 billion in sales by then.

According to Ma, India’s large, and relatively young population will fuel the growth. “I strongly believe that the Internet is a young business and the Internet is a business of young people,” he said.
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It is important to note that Indian businesses are already the second-biggest sellers on Alibaba after China.