Alibaba puts India investment plan on hold amid China tensions, according to sources | Malay Mail

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NEW DELHI, Aug 26 — China’s Alibaba Group has put on hold plans to invest in Indian companies, two sources aware of the plans told Reuters, amid souring business relations and rising political tension between the two nations after a clash on their Himalayan border. Alibaba, which has fuelled...

Wednesday, 26 Aug 2020 11:10 PM MYT

Alibaba, which has fuelled the growth of several Indian start-ups, will not put in fresh funds to expand its investments in the country for at least six months, the sources said. Ant also said it counted Paytm owner One97 Communications, in which it has a 30 per cent stake, as an associate or joint venture partner over which it has “significant influence”.

“Alibaba and a few others have put on hold their India investment plans for six months and they are hoping that things would cool off a bit after that,” said one of the sources.

 

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