Chinese e-commerce giant Alibaba Group is planning to enter Indian in 2016 and invest heavily in the e-commerce segment. The 17 year old Hangzhou based company is one of the oldest e-commerce portals in the world and they feel the time is right to increase footprint in India. Alibaba Group President J. Michael Evans and Global Managing Director K. Guru Gowrappan had a meeting with Indian Telecom Minister Ravi Shankar Parasad.
After the meeting, J. Michael Evans commented that, “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.” Alibaba is already invested in Paytm and Snapdeal. This decision comes after Alibaba founder Jack Ma’s first visit to India in November of 2014 after which he confirmed more investment in India.