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Alibaba's Jack Ma wants to invest more in India
Nov '14
Mr. Jack Ma/c: FICCI
Mr. Jack Ma/c: FICCI
Jack Ma, executive chairman of China-based ecommerce powerhouse Alibaba Group, has said that he wants to invest more in India.
Ma, who is currently visiting India, was addressing the ‘India-China (Zhejiang) Business Cooperation Conference’, organized by the Federation of Indian Chambers of Commerce and Industry (FICCI) in association with the Zhejiang Federation of Industry and Commerce, in New Delhi.
Ma said India-China business cooperation had a lot of potential and he was hopeful of closer business ties between Indian and China and more Indian vendors selling products to Chinese users via Alibaba.
He added that India is a great nation with many young people and has great products that can sell through his platform in China. “Right now it’s a wonderful time for India and China to do business, particularly after the visit Chinese President to India,” he said.
“We will improve our platform and technology in the future. Internet is changing the world and Internet will change India too,” Ma added.
Ma said he was inspired by the business-friendly climate being created in India under Prime Minister Narendra Modi.
During his visit, Ma has reportedly met several Indian entrepreneurs, including Kunal Bahl, founder of Snapdeal, one of the well-known e-tailers in the country.
Alibaba recently issued its record US$ 25 billion initial public offering (IPO) in the US.
The 50-year-old former English teacher is currently the wealthiest man in China with a networth of more than $20 billion.
India’s ecommerce sales stood at around $2 billion in 2013, and are expected to touch $15 billion by 2016, as the rising Internet penetration will lead to more people purchasing online. (RKS)

Fibre2fashion News Desk - India

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