China's biggest online e-commerce company Alibaba to expand its presence in India this year. Alibaba Group president Michael Evans stated that Alibaba is very much interested to enter India's e-commerce sector in a big way. "Ecommerce is a rising phenomenon in India, growing at 50% plus, with a huge catchment area, which shows the potential of a big aspirational market, Prasad said after the meeting.
We will give them (Alibaba) full cooperation." Said Evans. Alibaba has already made significant investments in India's ecommerce companies like Paytm and a small stake in Snapdeal, among the top local etailers. Assocham stated that the e-commerce companies in India connecting with customers with the increasing Internet and mobile penetration, growing acceptability of online payments and favourable demographics.
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