Alibaba Sees India As Significant Market In Its Global Strategy

by CXOtoday News Desk    Nov 13, 2017

India

E-commerce giant Alibaba’s chief executive officer Daniel Zhang said India is a ‘very important’ market to the company in its global strategy, reports ANI.

“Globalization is one of our key strategies for Alibaba. As part of this strategy, India is a very important topic. India is a very important market for us to look at,” said Zhang on the sidelines of the company’s 11.11 Global Shopping Festival.

“Before entering any new market, we ask ourselves how we can help the local market. For a market like India, the key aspect of our strategy is to help the local enterprises grow,” he added.

Alibaba has invested in Indian digital payment platform and e-commerce company Paytm. Alibaba is the largest stakeholder in it and is “happy” that the Indian digital payments is on the rise, he said. “We have invested in Paytm. We are very happy to see digital payment becoming so popular in India. This is one of the best examples to demonstrate how we want to help the local markets grow.”

Zhang, before joining Alibaba Group in 2015 was the CEO of Taobao, an online shopping portal owned by the former.

Jack Ma, the Chinese teacher-turned-business tycoon founded the Alibaba in 1999. The company thereafter escalated new heights year-after-year to become the biggest e-commerce platform in the world.

The platform boost of more than 500 million monthly active users. Alibaba offers electronic payment services, shopping portals, and cloud computing. Alibaba Group, today is among the top 10 biggest companies in the world.