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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