SHANGHAI: India is a “very vital” market to the most dominant Chinese ecommerce gigantic Alibaba in its international strategy, the CEO of the company stated that. “Globalization is one of our most important strategies for Alibaba. As part of this plan, India is a very significant subject. India is a very significant market for us to look at,” the (Chief Executive officer) of Alibaba Group Holding,Daniel Zhang, stated on the sidelines of the company’s. “Before entering any fresh market, we always ask ourselves how we can assist the local market. Especially for the market like India, the main part of our strategy is to assist the local ventures to develop,” added Zhang.
The company, which had invested in Indian digital expense platform and well known ecommerce brand like: Paytm to become the biggest stakeholder in it, is “content” to see digital payments increasing in India, the CEO stated. “We have invested a lot of sum in Paytm. We are very content to see digital payment becoming so admired in the developing country like India. This is one of the perfect examples to display how we want to assist the local markets develop,” Zhang stated.
Predominantly for Alibaba, it was not about going to a fresh and new market for doing big business but about giving out and sharing the company’s in and out experience with the local customers, the CEO stated. Zhang, who was former Chief Executive officer of Taobao, an online shopping web portal which was owned by the Alibaba Group, was selected as the (CEO) of the Alibaba Group in the year 2015.
Founded in the year 1999 by a Chinese teacher-turned industrialist named as Jack Ma as a platform to unite with the Chinese manufacturers with the world wide, Alibaba soon rose to develop into the biggest ecommerce stand in the world. Headquartered located in Hangzhou, about 182 km south of Shanghai, Alibaba is amongst the top 10 main companies of the world. The stage has over 520 million monthly active clients across its stages. Alibaba also offers shopping portals, electronic automatic payment services, and cloud-computing.