Amazon,Flipkart,ebay And Snapdeal Just Got A New Competitor, China's Alibaba To Enter Indian Market
The already crowded e-commerce sector in India is all set to have a new and formidable player - Chinese e-commerce major
"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," Alibaba Group President J Michael Evans said.
Alibaba is reportedly very keen to come to India in a very big way, particularly in the e-commerce segment.
Alibaba, which was founded in 1999 by Jack Ma, is the largest e-commerce player in China.
who's estimated net worth is around $24 billion, is one of the richest people in China.
Alibaba's entry into the Indian market will be an interesting scenario as Ma already has investments in two rival Indian brands, namely Snapdeal and Paytm.
Last month there were also reports that Ma was in talks with Flipkart on acquiring stakes.