Considering India’s vast population, its literacy rate and fast growing middle-class markets and also booming economy, Alibaba Group has finally decided to enter the India market in an aggressive manner .
Alibaba plans to launch its first fully owned e-commerce business this fiscal in India through its subsidiary, startup UCWeb, a senior company official commented .
UCWeb’s Vice President for Global Business Huaiyuan Yang told media that the company's planned foray in e-commerce space will not have an adverse impact on Paytm, in which Alibaba owns 30.15 per cent stake. (Note that Alibaba also owns a 3 per cent stake in Snapdeal.)
"We have Alibaba's e-commerce gene in us. We are actually trying to start innovative business model related to e-commerce. We are going to launch a new e-commerce product in India this year,and it will be even bigger and more successful that what we had accomplished in China" Yang commented in a phone interview with Thailand Startup News.
UCWeb's UC Browser has been available in India since 2009. It claims to have registered 1.1 billion user downloads worldwide (excluding China) with half of its global installs from India. It also claims to have 130 million monthly active users in the country.
When asked about probable impact of UCWeb's foray into e-commerce on Paytm's business, Yang said, "E-commerce is very vast business. There are various part of e-commerce business and several products. UC will choose section according to our business. We will partner with the right players and we will not compete with them (Paytm)".
UCWeb also have plans to start the sale of movie tickets online, Yang added. India movie industry and cinemas is a huge business, there are 8000 single screens and 4200 multiplex screens and the India Movie Industry churns out about 2600 movies a year in 23 languages!