No, Alibaba isn’t planning to buy a stake in Flipkart or ShopClues

Jack Ma’s journey will bring him to India soon. Graphic by Tech in Asia’s Kathrinna Rakhmavika.

Alibaba has its eyes on India, but it is not through buying a stake in Flipkart, as the rumor mills have feverishly suggested of late.

It isn’t even through a buyout of rival ShopClues.

In an email to Tech in Asia, a company spokesperson said :

“We are not currently preparing any investment into ShopClues or Flipkart. India is an important emerging market with great potential and we are committed to developing this market for the long term.”

“We see the Indian market as a natural progression of our strategy to expand Alibaba’s global footprint, and believe that it offers tremendous opportunities for the expansion of our ecosystem for doing commerce globally,” the company added.

See: A Jack Ma vs Jeff Bezos showdown is imminent in India

Alibaba did not share further details on its plans for the country.

Earlier this year, Alibaba Group president J Michael Evans told reporters that the company has been “exploring ecommerce opportunities” in the country.

Local media have been buzzing with news of a possible stake purchase in leading ecommerce company Flipkart, as well as its own foray in the sector.

The Chinese company’s entry in Indian ecommerce is imminent, and it has already held talks with various possible partners, multiple sources have told Tech in Asia over the months.

When that happens, it will lead to a head-on competition with the other ecommerce giant, Amazon.

But for now, Alibaba isn’t going to do that via the much anticipated buyouts.