Alibaba plans to enter Indian market with new investment in Paytm
By Staff Reporter | Feb 03, 2017 10:31 AM EST
Alibaba is planning an investment of between Rs 1,350 crore and Rs 1,700 in the online retail marketplace Paytm, reports the Economic Times.
Sources have told the newspaper that this deal will mark the formal entry of the Chinese major into the Indian market where it will compete with the likes of US' Amazon and India's Flipkart.