'Alibaba will continue to work in India'

Our Bureau Updated - January 20, 2018 at 11:40 AM.

People ride a tandem bicycle past a logo of the Alibaba Group at the company's headquarters on the outskirts of Hangzhou, Zhejiang province in this November 10, 2014 file picture. China could make billions of dollars from taxing gains made by employees of e-commerce giant Alibaba Group who are free to sell their shares for the first time since its IPO, as the country tightens up its leaky mechanisms for tax collection. On Wednesday, a six-month lock-up period for the recently New York-listed stock expired, allowing insiders who bought 437 million shares prior to the IPO to sell their stock, though 100 million of them are subject to trading restrictions that apply to employees until the company reports results in May. REUTERS/Aly Song/Files

Terming India as one of its most strategic markets, Chinese e-commerce giant Alibaba Group on Saturday said it will continue to work in the country in a number of sectors.

“We will continue to work in India with our partners in areas including B2B, B2C, e-commerce payments, mobile eco systems and Cloud,” said Shi Dongwei, Vice-President, Alibaba Group at the Chindia TMT Dialogue 2016.

The e-commerce company has indirectly entered the Indian e-commerce market space through investments in Snapdeal and Paytm. It had recently announced that it would enter the Indian e-commerce segment this year.

Meanwhile, addressing the event that aimed to increase dialogue between Indian and Chinese entrepreneurs in e-commerce and related events, Liu Jingsong, Charge d’affaires, Embassy of China in New Delhi, said the two countries can share much needed strategies in the sector with each other.

India's trade deficit with China stood at $51.86 billion and bilateral trade stood at $71.22 billion in 2015.

Noting that China would be hosting the G-20 Summit in September and India will be hosting the BRICS Summit in October, he said, “Internet and digital economy will be one of the most important topics.”

Jingsong also called on the two countries to support each other in the two summits.

Published on April 30, 2016 11:26