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Doris Yu · · 1 min readAlibaba won’t invest in India for at least 6 months: report
China’s tech giant Alibaba will not put in fresh funds to expand its investments in India for at least six months. This decision comes amid business relations and rising political tension between the two countries after a clash on their Himalayan border, Reuters reported, citing people familiar with the matter.
However, Alibaba has no plans to reduce its stakes or exit investments, either.
Since 2015, the Chinese conglomerate and its affiliates Alibaba Capital Partners and Ant Group have invested more than US$2 billion in Indian companies. It participated in funding rounds of at least another US$1.8 billion, according to data from PitchBook.
Putting its investments in India on hold could slow fundraising plans for some of Alibaba’s investee companies, which include payments platform Paytm, food delivery service platform Zomato, and e-grocer BigBasket.
Editing by September Grace Mahino
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