Ma Yun'S Next Gold Rush: India

"We will inject more investment into India and cooperate with entrepreneurs and technology companies in India," Ma Yun, founder and chairman of Alibaba group, told business people in New Delhi on Wednesday.

But Ma did not disclose the exact amount of investment.

Alibaba group controls 80% of China's e-commerce.

Two months after the Alibaba group's initial public offering (IPO) raised a record $25 billion, its founder Ma Yun visited India for the first time recently.

Ma Yun said he saw enormous potential in another 1 billion of the world's economy.

India's Economic Times reported that members of Ma Yun's delegation included 99 business people who are expected to meet with a number of India entrepreneurs.

Ma had visited India in 2009.

Since May this year, Mark, Zuckerberg, the founder of Facebook, and famous entrepreneurs such as Microsoft's CEO, Nadella have visited India.

This phenomenon also shows that India is attracting more and more attention from the world.

Just before the 48 hour visit to Ma Yun, the business leader of Jeff Bezos, founder and chief executive officer of Amazon, has just completed his visit to India.

Amazon and Alibaba are currently competing fiercely in the global market.

In October of this year, Softbank has invested $800 million in investment in Snapdeal.com and Ola Cabs, the largest e-commerce site in India. Once there was a market comment that Snapdeal would become the India version of the Alibaba.

Alibaba group and Snapdeal operate online market business, which can directly link small businesses to sellers.

Softbank is its biggest investor for both companies.

Local media reported that Ma will meet with the 30 year old Snapdeal co founder and chief executive, Kunal Bahl.

But Snapdeal refused to confirm the news.

Rumors that Ma will join hands with the India company to build a bigger business platform are now rampant.

Amazon also said earlier this year that the company would invest $2 billion in its India joint venture. At the same time, Flipkart Internet, a local e-commerce company in India, raised $1 billion.

In India, the e-commerce industry is just beginning.

According to statistics from New Delhi consulting firm Technopak Advisors, sales in India's online market were only around us $2 billion last year, compared with us $300 billion in the Chinese market and US $260 billion in the US.

According to data released by eMarketer, a market research firm, only 1.5% of Indians in 2012 had had online shopping activities.

But analysts pointed out that low price smart phones and lower Internet installation fees will push India's online retail market to grow.

According to a report jointly released by Google and market consultancy Forrester Consulting, it is estimated that by 2016, the total number of online shoppers in India will reach 100 million.

The report also predicts that the total retail market in India will reach $15 billion.

India has a large and relatively large scale.

The population will become the driving force for future growth.

He said: "I firmly believe that the Internet is a young business and is a business for young people."

Ma Yun also pointed out that

On the electricity supplier website of the group, India merchants have become the second largest sellers.

He said that about 400 thousand consumers in China are buying goods from India merchants, such as chocolate, seasonings and tea.

"In the next three years, one of the main strategies of Alibaba group is globalization, to ensure that more small businesses are using our services worldwide."

Ma Yun said.