Alibaba has decided to not to make any fresh investments in India. The company has invested in Indian startups like Paytm Mall, Zomato, BigBasket, Snapdeal, and Xpressbees.
Most of these startups have not been doing great especially the e-commerce platforms like Paytm Mall and Snapdeal. It is reported that the company has asked the India investment team to manage the existing portfolio instead of actively looking out for new investment avenues.
Experts anticipate that the Chinese company may now try to make a few exits in the highly competitive and regularly evolving Indian market. On the contrary, its rival Tencent is looking to make fresh investments in domestic Tech startups.
