Assistant Editor, IndianRetailer.com & Retailer Media Dec 29, 2016 /
Chinese e-commerce giant Alibaba is all set to open its first Indian office in Mumbai. As sources are to be believed, the new office will be adjacent to its arch rival US based e-retailer Amazon in the Bandra-Kurla Complex (BKC) , Mumbai. As per the media reports Alibaba is expected to pay the rent of Rs 275 a sq ft monthly or a little over Rs 1 crore. This is in line with rents in the area, between Rs 250 to Rs 325 sq. ft.
A leading research report indicates that India’s business to business (B2B) online retail market is estimated to grow by 2.5 times to Rs 45 lakh crore by 2020. In comparison, B2C (business to consumer) e-commerce is estimated to be only Rs 1.86 lakh crore by 2020.
As a crucial player in China's expansive digital economy and the operator of a prominent online shopping platform, Alibaba's performance is closely watched as a barometer of domestic consumption, which has shown signs of weakening recently.
Alibaba catalysed new business such as outsourcing of customer service, product photography, quality testing, e-shop design, recruitment and training for e-commerce.
Jasper Infotech, which owns and operates digital payments platform FreeCharge, has made a Rs 22-crore capital infusion in the company, its third such investment over the past five months.
Alibaba saw its revenue grow 56 per cent year-on-year in the fourth quarter in 2017.
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