Chinese e-commerce major Alibaba Group’s Global Managing Director K Guru Gowrappan today met Commerce and Industry Minister Nirmala Sitharaman to explore investment opportunities.
According to a PTI report: Huge opportunities exist for such big firms to invest in the country’s e-retail sector, an official said.
As per policy, 100 per cent FDI is permitted through automatic route in the marketplace format of e-commerce retailing.
However, foreign direct investment (FDI) has not been permitted in inventory-based model of e-commerce.
Alibaba.com has been operating in India since 2007. The marketplace had around 6 million registered Indian buyers and sellers as of early 2016.
K. Guru Gowrappan will soon be joining as an Additional Director at Mobile payment and commerce company, Paytm.
Alibaba Group's Global MD meets Nirmala to explore investment opportunities
As per policy, 100 per cent FDI is permitted through automatic route in the marketplace format of e-commerce retailing
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