Alibaba’s Global MD meets Sitharaman to discuss investment

The Dollar Business Bureau

he Global Managing Director of Chinese e-commerce giant Alibaba Group, K Guru Gowrappan, on Thursday had a meeting with Commerce and Industry Minister Nirmala Sitharaman to discuss about investment opportunities.

There are huge opportunities for such big companies for investment in the country’s e-retail segment, an official said when speaking to the media.

According to the country’s FDI policy, 100% foreign direct investment is allowed via automatic route in the marketplace model of e-commerce retailing.

However, FDI has not been allowed in the inventory-based format of e-commerce.

Since 2007, Alibaba.com has its operations in India. As of early 2016, the company had around 6 million registered sellers and buyers from India.