In an interesting move, Alibaba has hired former McKinsey and Goldman Sachs executive Madhur Deep who will be heading its strategy and investment team in India. Deep, who will be working as Sr Vice-President, will be handling the operations such as market entry, investments and partnerships for both B2B and consumer facing commerce businesses of Alibaba Group in India.
He will be working under K Guru Gowrappan, the global MD of Alibaba who is keeping a very close eye on the operations in India. The move comes at a time when Alibaba has been slowly building its India strategy team over the last few months, and is also looking for an India office in Bengaluru.
In its hiring spree to cement its operations in India, Alibaba has roped in many big names such as Bharati Balakrishnan, former chief business officer at a hyper local services startup, senior director Kshitij Karundia and director Soumitra Sharma and many more. Thus, making sure that its business baton passes through the right hands.
According to a source, Alibaba needs to catch up with Flipkart and Amazon, or people will just rule them out of the game in India. Anyway, India is much different from China in terms of market conditions and that's soon being realised by investors. Also, Alibaba has been actively talking to a lot of companies but trying to scout for lower valuations. It's a double-edged sword.