Image Soure: fxdailyreport.com
70% of the Indian e-commerce market is shared by Amazon and Flipkart. Alibaba has expressed interest in competing with these giants by taking over Paytm Mall. Alibaba, which also own the online retail service AliExpresses, plans to invest $ 2 Billion so it can sell products 20-25% cheaper than Amazon India and Flipkart. Alibaba has previously also invested in Zomato, Bigbasket, TicketNew and XpressBees Logistics which it will integrate with Paytm Mall to provide a one-stop-shop for all customers. Alibaba also plans to integrate Paytm Mall into their UC browser. This will be a good news for Paytm as UC browser has over 130 million active users in India.