Alibaba Planning to Invest in Micromax And Entry Into India

Asia’s largest e-commerce name Alibaba is planning to enter the Indian market. With all the buzz around the online space, a new healthy Investment Policies by New Prime Minister and the booming Mobile phone market in India, Alibaba has found a secret route to enter.

Sources claim that Chinese search and e-commerce giant Alibaba will invest heavily in Micromax, acquiring upto 20 % stake in the Indian company. A deal that would cost the company over  $ 1.2 Billion, would allow the chinese giant easy access into the market which is tough to get into for new companies.

Alibaba has also been in the news recently for investing in brands like Ouya, Meizu and Snapchat. Micromax is one of the largest mobile phone manufacturer in the domestic market. With its constant damage to Samsung’s position in India, and the new brand “YU” taking on the likes of Xiaomi and OnePlus in the local markets, Micromax makes for a good investment option.

–Source