China’s largest ecommerce retailer Alibaba Group is planning to enter Indian ecommerce market this year projecting the country’s massive importance as one of the best markets in the world.
- The group’s president Michael Evans and its global MD K Guru Gowrappan have met IT minister Ravi Shankar Prasad to discuss more about the company’s interest in India. According to industry sources, Alibaba Group is very interested in entering India’s market with bang and they further are in discussion with people on whether to establish heir own shop or tie-up with some other enterprises.
- Ecommerce has become a phenomenon in the country and rising at an exponential rate of above 50%. The group is focusing both on online as well as offline market in the country. Mr. Prasad said that the group is welcomed to imply both online and offline markets.
- The Chinese business giant has often compared Indian market with that of China stating that when Alibaba started over 16 years ago China became one of the most advanced ecommerce destinations in the world from a mere no-internet country wherein India is at a much impressive stage since India has favourably become one of the fastest growing economies in the world.
- Assocham has projected that Indiaa’s ecommerce market will be worth $38 billiion bby the end of this year witnessing a rise of 67% from the previous year. Ecommerce is also celebrated in the world’s biggest democracy since it has made shopping much easier for the people and with growing internet connectivity and mobile penetration, the acceptability of ecommerce and demand for the same will grow much more in the near future.