Alibaba.com in JV Talks with India Partners
Alibaba.com, the Hong Kong-listed business-to-business unit of Alibaba Group, plans to set up a joint venture in India to provide B2B e-commerce services.
According to a report in a leading US financial daily, the new Indian company will be similar to the joint venture Alibaba.com set up with Japanese mobile-phone and Internet company Softbank Corp.
The new Indian company will be similar to the joint venture Alibaba.com set up with Japanese mobile-phone and Internet company Softbank Corp, the leading US financial daily said citing Chief Executive David Wei. The Japanese joint venture caters to local small and midsize businesses.
"The most likely partners to be involved in the Indian JV are those that we are now cooperating with," David Wei, chief executive, was quoted as saying in Shanghai. "We are currently talking with them, it will definitely be a joint venture, and Alibaba does not seek to be a controlling stakeholder," he said.
At present, Alibaba.com is in alliance with India’s Infomedia 18, a publishing outsourcing firm, for customer service and sales & marketing.
Alibaba is China’s top e-commerce company and India is its second-largest overseas market by member base with 1 million members.
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