China’s leading e-commerce company Alibaba Group has stopped investing in India for some time due to the India-China tension. According to a report in Reuters, due to the high-security investigation on Chinese investment in India, the Alibaba Group is unlikely to enter new deals for investment in Indian companies for the next six months. That is, the company will not make any new investment in India. However, there has been no response from Alibaba in this regard. The government is also imposing many kinds of strictness on Chinese business and investment. Perhaps in view of this, China’s leading e-commerce company Alibaba has stopped its investment plan in India for the time being. Also Read - After Jack Ma Reappears in Public, Alibaba Stock Goes Up by 8%
The decision of Jack Ma’s company Alibaba Group may shock many Indian startups along with companies in India in which Alibaba was going to invest may get a shock, which includes payment platform Paytm, restaurant aggregator, and food delivery service Zomato and e-grocer Big Basket. However, there are no plans to dilute its stake or exit the investment. Also Read - 'Dekho Wo Aa Gaya': Memes Flood Twitter After Jack Ma Reappears in Public After Months
Significantly, Chinese company Alibaba and its affiliates Alibaba Capital Partners and Ant Group have invested more than $ 2 billion (about Rs 15,000 crore) in Indian companies since 2015. According to Pitchbook, a firm that monitors market financing, the Alibaba Group was preparing to invest $ 1.8 billion (about Rs 14,000 crore) in India. Alibaba Group has invested in many companies in India like Paytm, Zomato, BigBasket, and now the company will not make any new investment in these companies. Alibaba Group’s Ant has a 30% stake in Paytm’s owner company One97 Communications. The government has tightened the investment coming from China and has made it a rule that the investment coming from China, The Chinese group and its partners cannot take place without government approval. Also Read - Will Meet Again After Pandemic is Over: Here is What Jack Ma Said in Reappearance Video | WATCH
Recently, 20 Indian soldiers were martyred in the border dispute between the two countries. Since then, an anti-China and the boycott campaign of Chinese goods are trending in India.