Alibaba, largest e-commerce entity in China, is setting up its first India office in Mumbai to capture a pie of the growing e-commerce market here.
So far Alibaba has invested in Indian e-commerce company Snapdeal, and in Paytm, the mobile payments service platform, through Ant Financials, its payment arm.
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. India's $17-20 billion e-commerce market, expected to grow to $34 bn next year, is dominated by local giant Flipkart, followed by Amazon, and Snapdeal .