Chinese e-commerce giant Alibaba Group Holding Ltd recently made an announcement regarding the launch of its new sales channels in Singapore, Malaysia, Hong Kong and Taiwan as China’s deep-pocketed e-commerce firms compete for new users in the region.
The all new service, branded TmallWorld, will let the overseas Chinese users to purchase goods from Alibaba’s Tmall, its popular brand-to-consumer retail site, the company said in a statement. “Alibaba will provide end-to-end solutions including logistics, payment, and localization support catering to each local market’s needs,” the statement read.
Pretty active and popular within India as well, the Alibaba Groups this year had made an investment of Rs 17,000 crore in an Indian e-commerce website called Paytm. The big picture is that the Indian electronic commerce market is predictable to be worth $60 billion by 2020. It’s already big, worth $16 billion in 2016 and growing at a fast clip of 45 percent annually.
Furthermore, the cloud computing wing of the Alibaba Group ‘Alibaba Cloud’ recently has proclaimed to open its two data centres in Jakarta and India by March 31st next year. Also in order to connect Alibaba Cloud’s “ExpressConnect” via Tata Communications’ “IZO Private Connect” service, it has partnered with TATA telecommunications on June 10. Further, it aims to augment its computing resources which would offer immense hold up to small and medium enterprises.