Alibaba’s Jack Ma keen to invest in India, eyes small businesses

  • HT Correspondent, Hindustan Times, New Delhi
  • Updated: Nov 26, 2014 23:14 IST

China’s richest person and founder of e-commerce giant Alibaba, Jack Ma, said on Wednesday that he is keen to invest more in India and help technology entrepreneurs here.

“I myself commit that we will invest more in India, work with Indian entrepreneurs, India technologists to improve the relationship of the two nations and to improve the great lives of human beings,” Ma said at the India-China (Zhejiang) Business Cooperation Conference organised by industry body FICCI on Wednesday.

Ma founded Alibaba in 1999 in Hangzhou, capital of Zhejiang.

After creating history with the largest-ever initial public offering (IPO) at nearly $25 billion, Alibaba is already working with many businesses in India, and looking to expanding business ties.

Ma said he was impressed by Prime Minister Narendra Modi’s leadership, adding that it is the best time for the two countries to work together and increase opportunities for entrepreneurs.

“I have heard the Prime Minister’s speech and it is very passionate and inspiring. As a businessman, I was inspired and moved by it. Both China and India can achieve a lot working together,” he said.

“There are large number of Indian businesses on our websites. We have over 400,000 Chinese consumers buying Indian chocolates, spices and tea. I think India has more great products that can sell to China,” said Ma, whose personal wealth is estimated at $24.4 billion.

Globally, Alibaba will continue to work with small businesses, ... “to make sure that we can help more small businesses around the globe, use our services to do businesses,” he said.

“I was a teacher. Internet changed my life. It can change India too. India is a great nation with so many young people. I strongly believe that Internet is a young business and a business of young people,” he said.

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