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Alibaba Group puts investment plan on hold amid rising India-China tensions

Alibaba, which has fuelled the growth of several Indian start-ups, will not put in fresh funds to expand its investments in the country for at least six months

twitter-logoReuters | August 27, 2020 | Updated 09:58 IST
Alibaba Group puts investment plan on hold amid rising India-China tensions

China's Alibaba Group has put on hold plans to invest in Indian companies, two sources aware of the plans told Reuters, amid souring business relations and rising political tension between the two nations after a clash on their Himalayan border.

Alibaba, which has fuelled the growth of several Indian start-ups, will not put in fresh funds to expand its investments in the country for at least six months, the sources said.

However, there are no plans to reduce its stakes or exit investments, they added. The sources declined to be identified as the talks are private.

Also read: India home to 21 startups valued over $1 billion, just a tenth of China's: Hurun Global Unicorns List

Also read: Trump may exert pressure on other Chinese firms like Alibaba after TikTok ban

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