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Alibaba eyes acquisition of Indian E-commerce companies
By Input from Agencies  Published on: 05-Apr-2015 09:31:24
Place: New Delhi
   views 2413    Print page  

One of the biggest chinese e-commerce company Alibaba is eyeing for an acquisition of Indian e-retailors that should have a massive customer base and booming number of merchants.

Alibaba eyes acquisition of Indian E-commerce companies

The firm's aim is to expand its product and services range along with excellent customer service and experience.

An Alibaba spokesperson stated "Alibaba Group's investment strategy focuses on three aspects of our business: increasing user acquisition and engagement, improving customer experience and expanding our products and services, Its B2B e-commerce platform provides a global market to small and medium enterprises (SMEs), Our investment approach also involves supporting entrepreneurs in the development of innovative products and technologies".

The company is already in talks with other e-commerce companies like FlipKart, Amazon and Snapdeal. Its strategy is to go global over a period of short-medium timeframe. The company is interested in mobilizing small businesses around the world.

India offers one of the biggest untapped market, since more and more users are using smartphones and internet to do their purchases, online retail offers an interesting investment opportunity.

PwC state "the e-commerce sector in India is expected to grow by 34 per cent to USD 22 billion in 2015 compared to last year."  Alibaba as already signed memorandum of understanding with industry body CII for greater business engagement between SMEs in India and China.

Alibaba in February announced the acquisition of 25 percent stake in One97 Communications. the parenting company of Paytm.

Alibaba founder Jack Ma, who was on his first visit to India, stated " he will invest more in India, work with Indian entrepreneurs, India technologists to improve the relationship of the two nations". Ma already met Prime Minister Narendra Modi and discussed how the firm can help in empowering small businesses in India.

Jack Ma has a fortunes of about USD 24 billion, founded Alibaba in 1999 in Hangzhou, capital of east China's Zhejiang province. He is one of the richest person in china.

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