NRI Pulse


Alibaba to invest more in India: Jack Ma

New Delhi, Nov 26 (IANS) Chinese e-commerce giant Alibaba’s founder and executive chairman Jack Ma Wednesday said he wanted to invest more in India.

“I myself commit that we will invest more in India and work with the Indian entrepreneurs and Indian technologists to improve the relationship between the two nations and to improve the great lives of human beings,” he said.

Jack was addressing the Zhejiang China-India Business Cooperation Conference here organised by Federation of Indian Chambers of Commerce and Industry.

Alibaba that went into initial public offering (IPO) in September this year ranking as the world’s biggest at $25 billion.

Saying “Indians are smart”, Jack added that Indians are the second highest users of Alibaba after China.

“They use our site often. We are improving technology into a platform that will help small business in India to be using us,” he said.

The next key strategy of Alibaba is globalising to ensure that all small businesses around the world use its platform, Jack added.

“Our mission is to help do business easier. In Alibaba, we have 400,000 Chinese consumers buying things from India. They mostly buy Indian tea, spices and chocolates. I think India has more great products that can sell to China ,” Jack added.

“India is getting changed by the internet. India is a great nation with so many young people. India is a nation with hope. internet is a business of young people. India is a nation of mobile phones.

“If both the nations work together they will benefit from each other. These two nations have great culture. I believe this is a great opportunity for both the nations to work together to improve the culture,” he said.

Speaking about Prime Minister Narendra Modi, he said: “Recently, I have heard the speech by Prime Minister Narendra Modi. It was a very passionate and inspiring speech. As a business person I was moved and inspired.

“I think after President Xi Jinping’s visit the two nations have a great time to make business. Right now it is the time for business people of the two nations to work together.”

Alibaba is based out of China and the company is focusing to help do more business in the internet, Jack said.

“We are listed in the New York stock Exchange. We want the company to last 102 years. We started in the last century, in 1999; we have 100 years in this century and one year we need of the next century.”

According to the annual online shopping growth report compiled by Forrester Consulting and Google search trends, India will have 100 million online shoppers and the country’s e-tailing sector will become a $15 billion market by 2016 and the The number of online shoppers in India is projected to be 35 million in 2014.

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